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Toward A Framework For Evaluating Agricultural Economics Research

Author

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  • Lindner, Robert K.

Abstract

Agricultural economists need to evaluate their own research priorities. The main difficulty in doing so is to value the types of information generated by economic research. Bayesian decision theory provides a framework for valuing information, and the results of selected studies using this methodology are collated. Most of the other determinants of research priorities can be encapsulated in a target return ratio measure. How such a framework might be used is illustrated by three 'hypotheticals'.

Suggested Citation

  • Lindner, Robert K., 1987. "Toward A Framework For Evaluating Agricultural Economics Research," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(02), August.
  • Handle: RePEc:ags:ajaeau:22453
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    File URL: http://purl.umn.edu/22453
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    References listed on IDEAS

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    1. Byerlee, Derek R. & Anderson, Jock R., 1982. "Risk, Utility and the Value of Information in Farmer Decision Making," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(03), December.
    2. Bardsley, Peter & Harris, Michael, 1987. "An Approach To The Econometric Estimation Of Attitudes To Risk In Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(02), August.
    3. Freebairn, J W, 1976. "The Value and Distribution of the Benefits of Commodity Price Outlook Information," The Economic Record, The Economic Society of Australia, vol. 52(138), pages 199-212, June.
    4. Hirshleifer, Jack, 1973. "Where Are We in the Theory of Information?," American Economic Review, American Economic Association, vol. 63(2), pages 31-39, May.
    5. Hayami, Yujiro & Peterson, Willis, 1972. "Social Returns to Public Information Services: Statistical Reporting of U. S. Farm Commodities," American Economic Review, American Economic Association, vol. 62(1), pages 119-130, March.
    6. Richardson, Bob, 1986. "Some Current Issues In The Marketing Of Agricultural Products," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(02-03).
    7. Campbell, H F & Lindner, R K, 1985. "A Model of Mineral Exploration and Resource Taxation," Economic Journal, Royal Economic Society, vol. 95(377), pages 146-160, March.
    8. Solow, Robert M, 1974. "The Economics of Resources or the Resources of Economics," American Economic Review, American Economic Association, vol. 64(2), pages 1-14, May.
    9. Freebairn, John W., 1978. "An Evaluation of Outlook Information for Australian Agricultural Commodities," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), December.
    10. J. Bruce Bullock & Samuel H. Logan, 1970. "An Application of Statistical Decision Theory to Cattle Feedlot Marketing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 52(2), pages 234-241.
    11. John W. Freebairn, 1976. "Welfare Implications Of More Accurate Rational Forecast Prices," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 20(2), pages 92-102, August.
    12. Norton, George W. & Schuh, G. Edward, 1981. "Evaluating Returns to Social Science Research: Issues and Possible Methods," Evaluation of Agricultural Research, Proceedings of a Workshop, Minneapolis, MN, May 12-13, 1980, Miscellaneous Publication 8 49076, University of Minnesota, Agricultural Experiment Station.
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    Cited by:

    1. Kelley, T. G. & Ryan, J. G. & Patel, B. K., 1995. "Applied participatory priority setting in international agricultural research: Making trade-offs transparent and explicit," Agricultural Systems, Elsevier, vol. 49(2), pages 177-216.
    2. Ryan, Jim, 2002. "Assessing the impact of food policy research: rice trade policies in Viet Nam," Food Policy, Elsevier, vol. 27(1), pages 1-29, February.

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