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The Sensitivity of Returns to Research Calculations to Supply Elasticity

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  • James F. Oehmke
  • Eric W. Crawford
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    Abstract

    Returns to research are thought to be robust under alternative supply elasticity assumptions. We show, both conceptually and numerically, how advances in approximating social benefits make returns to research sensitive to the supply elasticity. Despite this greater sensitivity, these advances retain conceptual and practical advantages. We make recommendations for dealing with the increased sensitivity. Copyright 2002, Oxford University Press.

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    File URL: http://hdl.handle.net/10.1111/1467-8276.00303
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    Bibliographic Info

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

    Volume (Year): 84 (2002)
    Issue (Month): 2 ()
    Pages: 366-369

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    Handle: RePEc:oup:ajagec:v:84:y:2002:i:2:p:366-369

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    Cited by:
    1. Qaim, Matin, 2003. "Bt Cotton in India: Field Trial Results and Economic Projections," World Development, Elsevier, vol. 31(12), pages 2115-2127, December.
    2. Oehmke, James F. & Crawford, Eric W., 2004. "Analysis Of Projects With Price Effects, And Application To Innovation And Technical Change," Staff Papers 11766, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    3. Guettler, Stefan & Seidel-Lass, Linda & Mueller, Rolf A.E., 2012. "Simulating the spillover benefits from R&D by a small producer country embedded in a co-authorship network: Aquaculture R&D in Germany," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 122885, International Association of Agricultural Economists.
    4. Kim, Yun-Shik & Sumner, Daniel A., 2005. "Measuring Research Benefits With Import Ban Restrictions, Quality Changes, Non-Market Influences On Adoption And Food Security Incentives," 2005 Annual meeting, July 24-27, Providence, RI 19148, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Julian M. Alston & John W. Freebairn & Jennifer S. James, 2004. "Levy-funded research choices by producers and society," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 33-64, 03.
    6. Goddard, Ellen W. & Shank, Benjamin & Panter, Chris & Nilsson, Tomas K.H. & Cash, Sean B., 2007. "Canadian Chicken Industry: Consumer Preferences, Industry Structure and Producer Benefits from Investment in Research and Advertising," Project Report Series 52088, University of Alberta, Department of Resource Economics and Environmental Sociology.
    7. Falck-Zepeda, Jose & Horna, Daniela & Smale, Melinda, 2007. "The economic impact and the distribution of benefits and risk from the adoption of insect resistant (Bt) cotton in West Africa:," IFPRI discussion papers 718, International Food Policy Research Institute (IFPRI).

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