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Assessing Economic Implications of New Technology: The Case of Cornstarch-Based Biodegradable Plastic

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  • Keith H. Coble
  • Ching-Cheng Chang
  • Bruce A. McCarl
  • Bobby R. Eddleman

Abstract

A nonlinear mathematical programming model of the agricultural sector is utilized to examine the potential economic impacts of producing cornstarch-based biodegradable plastics. The model simulates market conditions in terms of prices, quantities, farm program expenditures, and resource usage while also generating social welfare measures. Six alternative biodegradable plastic production and technology scenarios are examined. The results indicate that biodegradable plastics production, even under optimistic scenarios, does not have major impacts on the agricultural sector. Producers gain welfare benefits, largely through corn and sorghum production. Biode-degradable plastics production causes increased farm program expenditures as well. A net welfare cost to the agricultural sector would need to be met by consumer and environmental gains due to biodegradable plastics use.

Suggested Citation

  • Keith H. Coble & Ching-Cheng Chang & Bruce A. McCarl & Bobby R. Eddleman, 1992. "Assessing Economic Implications of New Technology: The Case of Cornstarch-Based Biodegradable Plastic," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 14(1), pages 33-43.
    • Handle: RePEc:oup:revage:v:14:y:1992:i:1:p:33-43.
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    File URL: http://hdl.handle.net/10.2307/1349605
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    Cited by:

    1. Callaway, J.M., 2000. "Assessing the Costs and Market Impacts of Carbon Sequestration, Climate Change and Acid Rain," Other publications TiSEM c58adec9-1535-46cf-b213-b, Tilburg University, School of Economics and Management.
    2. Uwe Schneider & Bruce McCarl, 2003. "Economic Potential of Biomass Based Fuels for Greenhouse Gas Emission Mitigation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 24(4), pages 291-312, April.
    3. Muhammad A. Quddus & Stephen P. Davies & Donald W. Lybecker, 1997. "The Livestock Economy of Pakistan: An Agricultural Sector Model Approach," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 36(2), pages 171-190.
    4. Chih-Chun Kung & Meng-Shiuh Chang, 2015. "Effect of Agricultural Feedstock to Energy Conversion Rate on Bioenergy and GHG Emissions," Sustainability, MDPI, vol. 7(5), pages 1-15, May.
    5. Chih-Chun Kung & Hualin Xie & Tao Wu & Shih-Chih Chen, 2014. "Biofuel for Energy Security: An Examination on Pyrolysis Systems with Emissions from Fertilizer and Land-Use Change," Sustainability, MDPI, vol. 6(2), pages 1-18, January.
    6. Meng-Shiuh CHANG & Wen WANG & Chih-Chun KUNG, 2015. "Economic effects of the biochar application on rice supply in Taiwan," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(6), pages 284-295.
    7. Xiaoyong CAO & Chih-Chun KUNG & Yuelong WANG, 2017. "An environmental and economic evaluation of carbon sequestration from pyrolysis and biochar application in China," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 63(12), pages 569-578.
    8. Kung, Chih-Chun & Cao, Xiaoyong & Choi, Yongrok & Kung, Shan-Shan, 2019. "A stochastic analysis of cropland utilization and resource allocation under climate change," Technological Forecasting and Social Change, Elsevier, vol. 148(C).
    9. Kung, Chih-Chun, 2019. "A stochastic evaluation of economic and environmental effects of Taiwan's biofuel development under climate change," Energy, Elsevier, vol. 167(C), pages 1051-1064.
    10. Chih-Chun Kung & Bruce A. McCarl & Chi-Chung Chen, 2014. "An Environmental and Economic Evaluation of Pyrolysis for Energy Generation in Taiwan with Endogenous Land Greenhouse Gases Emissions," IJERPH, MDPI, vol. 11(3), pages 1-19, March.
    11. Kung, Chih-Chun & Zhang, Ning & Choi, Yongrok & Xiong, Kai & Yu, Jiangli, 2019. "Effectiveness of crop residuals in ethanol and pyrolysis-based electricity production: A stochastic analysis under uncertain climate impacts," Energy Policy, Elsevier, vol. 125(C), pages 267-276.
    12. Chih-Chun KUNG, 2018. "A dynamic framework of sustainable development in agriculture and bioenergy," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 64(10), pages 445-455.
    13. Chih-Chun Kung & Bruce A. McCarl & Chi-Chung Chen & Xiaoyong Cao, 2014. "Environmental Impact and Energy Production: Evaluation of Biochar Application on Taiwanese Set-Aside Land," Energy & Environment, , vol. 25(1), pages 13-39, February.
    14. Ching-Cheng Chang, 1999. "Carbon sequestration cost by afforestation in Taiwan," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 2(3), pages 199-213, September.
    15. Ching-Cheng Chang, 1999. "Carbon sequestration cost by afforestation in Taiwan," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 2(3), pages 199-213, September.
    16. Kung, Chih-Chun & Zhang, Ning, 2015. "Renewable energy from pyrolysis using crops and agricultural residuals: An economic and environmental evaluation," Energy, Elsevier, vol. 90(P2), pages 1532-1544.

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