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Genetic Information in Agricultural Productivity and Product Development

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Abstract

A prominent facet of recent changes in agriculture has been the advent of precision breeding techniques. Another has been an increase in the level of information inputs and outputs associated with agricultural production. This paper identifies ways in which these features may complement in expanding the variety of processed products, the level of productivity, and the rate of change in productivity. Using a martingale concept of "more information," we identify conditions under which more information increases the incentives to invest and engage in product differentiation. A theory on how genetic uniformity can enhance the rate of learning through process experimentation, and so the rate of technical change, is also developed.

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File URL: http://www.card.iastate.edu/publications/DBS/PDFFiles/03wp329.pdf
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Bibliographic Info

Paper provided by Center for Agricultural and Rural Development (CARD) at Iowa State University in its series Center for Agricultural and Rural Development (CARD) Publications with number 03-wp329.

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Date of creation: Apr 2003
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Handle: RePEc:ias:cpaper:03-wp329

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Keywords: experimentation; genetics; information; martingale; sorting; uniformity; value added.;

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References

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  1. Bonaccorsi, Andrea & Giuri, Paola, 2001. "The long-term evolution of vertically-related industries," International Journal of Industrial Organization, Elsevier, vol. 19(7), pages 1053-1083, July.
  2. Nelson, Richard R & Winter, Sidney G, 1982. "The Schumpeterian Tradeoff Revisited," American Economic Review, American Economic Association, vol. 72(1), pages 114-32, March.
  3. Jonathan Levin & Susan Athey, 2001. "The Value of Information in Monotone Decision Problems," Working Papers 01003, Stanford University, Department of Economics.
  4. Ferrier, Peyton Michael, 2002. "Measurement Of Grading Error Costs In The Beef Industry," 2002 Annual meeting, July 28-31, Long Beach, CA 19906, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  5. Hennessy, David A., 1996. "Information Asymmetry As a Reason for Food Industry Vertical Integration," Staff General Research Papers 5032, Iowa State University, Department of Economics.
  6. Allen, Beth, 1983. "Neighboring information and distributions of agents' characteristics under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 12(1), pages 63-101, September.
  7. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
  8. Chambers, Robert G & Quiggin, John, 2003. "Information and the risk-averse firm," Risk and Sustainable Management Group Working Papers 150344, University of Queensland, School of Economics.
  9. Allen, Douglas W & Lueck, Dean, 1998. "The Nature of the Farm," Journal of Law and Economics, University of Chicago Press, vol. 41(2), pages 343-86, October.
  10. Knoeber, Charles R, 1989. "A Real Game of Chicken: Contracts, Tournaments, and the Production of Broilers," Journal of Law, Economics and Organization, Oxford University Press, vol. 5(2), pages 271-92, Fall.
  11. Peter Bogetoft & Henrik Ballebye Olesen, 2003. "Incentives, Information Systems, and Competition," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(1), pages 234-247.
  12. Alfred D. Chandler, 1992. "Organizational Capabilities and the Economic History of the Industrial Enterprise," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 79-100, Summer.
  13. Juan Dubra & Federico Echenique, 2001. "Measurability Is Not about Information," Cowles Foundation Discussion Papers 1296, Cowles Foundation for Research in Economics, Yale University.
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Citations

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Cited by:
  1. Bulut, Harun & Lawrence, John D., 2008. "Meat Slaughter and Processing Plants' Traceability Levels: Evidence from Iowa," Staff General Research Papers 12928, Iowa State University, Department of Economics.
  2. Hennessy, David A., 2005. "Informed Control Over Inputs and Extent of Industrial Processing," Staff General Research Papers 12377, Iowa State University, Department of Economics.
  3. Parcell, Joseph L. & Franken, Jason R.V. & Schafer, Daniel & Patterson, David J. & John, Mike & Kerley, Monty S. & Haden, Kent, 2011. "Coordinating Sire Genetics in a Synchronized AI Program," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers.
  4. Lambert, David K., 2008. "The expected utility of genetic information in beef cattle production," Agricultural Systems, Elsevier, vol. 99(1), pages 44-52, December.
  5. Hennessy, David A., 2003. "Slaughterhouse Rules: Animal Uniformity and Regulating for Food Safety in Meat Packing," Staff General Research Papers 10839, Iowa State University, Department of Economics.
  6. Parcell, Joseph L. & Schaefer, Daniel & Patterson, David J. & John, Mike & Kerley, Monty S. & Haden, Kent, 2008. "Assessing the Value of Coordinated Sire Genetics in a Synchronized AI Program," 2008 Conference, April 21-22, 2008, St. Louis, Missouri 37618, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
  7. Antonio Seccia & Antonio Stasi & Luigi Roselli, 2006. "Atteggiamento dei consumatori nei confronti dell'evoluzione del sistema agro-alimentare: l'introduzione di alimenti geneticamente modificati," ECONOMIA AGRO-ALIMENTARE, FrancoAngeli Editore, vol. 10(1).

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