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Measuring research benefits in an imperfect market

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  • T.J. Voon

Abstract

In this paper, an imperfect market model is developed for evaluating agricultural research benefits. The main finding is that the increases in societal gain, and the producer's share of this gain, are larger with a monopoly than with a competitive market. The paper argues that if the market for an agricultural input or for a commodity is not competitive, then use of a competitive model for assessing research benefits could lead to understatements of both producer and total benefits.

Suggested Citation

  • T.J. Voon, 1994. "Measuring research benefits in an imperfect market," Agricultural Economics, International Association of Agricultural Economists, vol. 10(1), pages 89-93, January.
    • Handle: RePEc:bla:agecon:v:10:y:1994:i:1:p:89-93
    DOI: 10.1111/j.1574-0862.1994.tb00292.x
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    Cited by:

    1. D.S. Bullock & K. Salhofer, 1998. "Measuring the social costs of suboptimal combinations of policy instruments: A general framework and an example," Agricultural Economics, International Association of Agricultural Economists, vol. 18(3), pages 249-259, May.
    2. Sexton, Richard J. & Sexton, Terri A., 2000. "Measuring research benefits in an imperfect market: reply to Holloway," Agricultural Economics, Blackwell, vol. 22(2), pages 129-131, March.
    3. Voon, Thomas J., 1996. "Measuring research benefits in an imperfect market," Agricultural Economics, Blackwell, vol. 13(3), pages 205-205, February.
    4. Voon, J. P., 2000. "Measuring research benefits in an imperfect market: second reply," Agricultural Economics, Blackwell, vol. 22(2), pages 127-128, March.
    5. Sexton, Richard J. & Sexton, Terri A., 1996. "Measuring research benefits in an imperfect market," Agricultural Economics, Blackwell, vol. 13(3), pages 201-204, February.

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