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A Multiattribute Utility Analysis Of Technological Choice In The California Wild Rice Industry

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  • Noel, Jay E.
  • Ahern, James

Abstract

Technological choice and competitive strategy issues are reviewed and then a framework for choosing between two competing technologies is proposed.The two competing technologies differ in their ability to store and process wild rice over a marketing year. The traditional technologies requires almost immediate processing of the harvested wild rice while the experimental technology allows harvested wild rice to be stored and processed over the course of the marketing year. Technological choice is explored using multiattribute utility analysis and two economic evaluations. The economic evaluations are payback period analysis and internal rate of return analysis given uncertain demand conditions. The experimental technology is shown to be the dominant technological choice under both multiattribute utility analysis and the economic analyses.

Suggested Citation

  • Noel, Jay E. & Ahern, James, 2002. "A Multiattribute Utility Analysis Of Technological Choice In The California Wild Rice Industry," 2002 Annual meeting, July 28-31, Long Beach, CA 19870, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19870
    DOI: 10.22004/ag.econ.19870
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    References listed on IDEAS

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    1. Keeney,Ralph L. & Raiffa,Howard, 1993. "Decisions with Multiple Objectives," Cambridge Books, Cambridge University Press, number 9780521438834.
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