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Returns to Public Investments in Agriculture with Imperfect Downstream Competition

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  • Stephen F. Hamilton
  • David Sunding

Abstract

A multiple-market framework is developed to measure the size and distribution of research benefits. The model considers an upstream raw product market and a downstream finished productmarket and allows for imperfect competition in the intermediary food-processing sector. A central conceptual result is derived: an increase in raw product output is a sufficient condition for cost-reducing innovations in the farm sector to increase social welfare. A special case of linear farm supply and isoelastic processing production functions reveals that necessary conditions for welfare to decrease are a convergent farm supply shift, an oligopsonistic upstream market configuration, and increasing returns-to-scale processing technology. Copyright 1998, Oxford University Press.

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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 80 (1998)
Issue (Month): 4 ()
Pages: 830-838

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Handle: RePEc:oup:ajagec:v:80:y:1998:i:4:p:830-838

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Cited by:
  1. 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.
  2. Zhang, Mingxia & Sexton, Richard J., 2000. "Optimal Commodity Promotion In Imperfectly Competitive Markets," 2000 Annual meeting, July 30-August 2, Tampa, FL 21823, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Richards, Timothy J. & Padilla, Luis, 2002. "Commodity R&D And Promotion," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 34(03), December.
  4. Bontems, P. & Bouamra-Mechemache, Z., 2004. "Predatory accomodation in vertical contracting with externalities," Economics Working Paper Archive (Toulouse) 200402, French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse).
  5. Alston, Julian M. & Sexton, Richard J. & Zhang, Mingxia, 1999. "Imperfect competition, functional forms, and the size and distribution of research benefits," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 21(2), October.
  6. Sexton, Richard J. & Sexton, Terri A., 2000. "Measuring research benefits in an imperfect market: reply to Holloway," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 22(2), March.
  7. Nicolas Gruyer & Philippe Bontems, 2006. "When cost improvements harm consumers," Economics Working Papers 03, LEEA (air transport economics laboratory), ENAC (french national civil aviation school).
  8. Richards, Timothy J. & Padilla, Luis, 2001. "Commodity R&D, Patenting, And Promotion," 2001 Annual meeting, August 5-8, Chicago, IL 20497, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  9. Frisvold, George B. & Sullivan, John & Raneses, Anton, 2003. "Genetic improvements in major US crops: the size and distribution of benefits," Agricultural Economics, Blackwell, vol. 28(2), pages 109-119, March.
  10. Bouamra-Mechemache, Zohra & Jianyu, Yu, 2013. "Production Standards, Competition and Vertical Relationship," TSE Working Papers 13-417, Toulouse School of Economics (TSE).
  11. Cranfield, John A.L., 2002. "Optimal Collective Investment In Generic Advertising, Export Market Promotion And Cost-Of-Production Reducing Research," Working Papers 34135, University of Guelph, Department of Food, Agricultural and Resource Economics.

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