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Genetic Information in Agricultural Productivity and Product Development

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Author Info
Hennessy, David A.
Miranowski, John
Babcock, Bruce A.

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

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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10340.

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Date of creation: 03 Apr 2003
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Publication status: Published in American Journal of Agricultural Economics, February 2004, Vol. 86, No. 1, pp. 73-87.
Handle: RePEc:isu:genres:10340

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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Web page: http://www.econ.iastate.edu
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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Nelson, Richard R & Winter, Sidney G, 1982. "The Schumpeterian Tradeoff Revisited," American Economic Review, American Economic Association, vol. 72(1), pages 114-32, March.
  2. Jonathan Levin & Susan Athey, 2001. "The Value of Information in Monotone Decision Problems," Working Papers 01003, Stanford University, Department of Economics. [Downloadable!]
    Other versions:
  3. Allen, Douglas W & Lueck, Dean, 1998. "The Nature of the Farm," Journal of Law & Economics, University of Chicago Press, vol. 41(2), pages 343-86, October.
  4. Hennessy, David A., 2002. "Information Asymmetry as a Reason for Food Industry Vertical Integration," Staff General Research Papers 5032, Iowa State University, Department of Economics.
  5. Peter Bogetoft & Henrik Ballebye Olesen, 2003. "Incentives, Information Systems, and Competition," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 85(1), pages 234-247, 02. [Downloadable!] (restricted)
  6. Robert G. Chambers & John Quiggin, . "Information and the Risk-Averse Firm," Risk & Uncertainty Working Papers WPR03_2, Risk and Sustainable Management Group, University of Queensland. [Downloadable!]
  7. Juan Dubra & Federico Echenique, 2001. "Measurability Is Not about Information," Cowles Foundation Discussion Papers 1296, Cowles Foundation, Yale University. [Downloadable!]
  8. Allen, Beth, 1983. "Neighboring information and distributions of agents' characteristics under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 12(1), pages 63-101, September. [Downloadable!] (restricted)
  9. 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. [Downloadable!] (restricted)
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  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. Chandler, Alfred D, 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. [Downloadable!] (restricted)
  12. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. 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.
    Other versions:
  2. David A. Hennessy, 2004. "Product Development, Cost Seasonality, Region Marginalization, and a More Demanding Consumer," Center for Agricultural and Rural Development (CARD) Publications 04-wp378, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
    Other versions:
  3. Carriquiry, Miguel A. & Babcock, Bruce A., 2004. "Reputation, Quality Observability, and the Choice of Quality Assurance Systems," Staff General Research Papers 12038, Iowa State University, Department of Economics. [Downloadable!]
    Other versions:
  4. Roosen, Jutta & Hennessy, David A. & Hennessy, Thia C., 2004. "Seasonality, Capital Inflexibility, and the Industrialization of Animal Production," Staff General Research Papers 12222, Iowa State University, Department of Economics. [Downloadable!]
    Other versions:
  5. David A. Hennessy, 2005. "Informed Control Over Inputs and Extent of Industrial Processing," Center for Agricultural and Rural Development (CARD) Publications 05-wp398, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
    Other versions:
  6. David A. Hennessy, 2003. "Slaughterhouse Rules: Human Error, Food Safety, and Uniformity in Meat Packing," Center for Agricultural and Rural Development (CARD) Publications 03-wp346, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  7. repec:isu:genres:11251 is not listed on IDEAS
  8. 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. [Downloadable!]
    Other versions:
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