Hog-Round Marketing, Seed Quality, and Government Policy: Institutional Change in U.S. Cotton Production, 1920 1960
Between 1928 and 1960 U.S. cotton production witnessed a revolution with average yields roughly tripling while the quality of the crop increased significantly. This paper analyzes the key institutional and scientific developments that facilitated the revolution in biological technologies, pointing to the importance of two government programs -- the one-variety community movement and the Smith-Doxey Act -- as catalysts for change. The story displays two phenomena of interest in light of the recent literature: 1. an important real-world example of the workings of Akerlof's lemons model and 2. a case where inventors, during an early phase of the product cycle, actually encouraged consumers to copy and disseminate their intellectual property.
(This abstract was borrowed from another version of this item.)
Volume (Year): 63 (2003)
Issue (Month): 02 (June)
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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.:
- Constantine, John H & Alston, Julian M & Smith, Vincent H, 1994. "Economic Impacts of the California One-Variety Cotton Law," Journal of Political Economy, University of Chicago Press, vol. 102(5), pages 951-974, October.
- Simpson, D.M., 1954. "Natural Cross-Pollination in Cotton," Technical Bulletins 156667, United States Department of Agriculture, Economic Research Service.
- Howell, L. D. & Watson, Leonard J., 1939. "Cotton Prices in Relation to Cotton Classification Service and to Quality Improvement," Technical Bulletins 168475, United States Department of Agriculture, Economic Research Service.
- Musoke, Moses S. & Olmstead, Alan L., 1982. "The Rise of the Cotton Industry in California: A Comparative Perspective," The Journal of Economic History, Cambridge University Press, vol. 42(02), pages 385-412, June.
- Bulow, Jeremy I, 1982. "Durable-Goods Monopolists," Journal of Political Economy, University of Chicago Press, vol. 90(2), pages 314-332, April.
- George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
- Simpson, D.M., 1954. "Natural Cross-Pollination in Cotton," Technical Bulletins 156738, United States Department of Agriculture, Economic Research Service.
- Whatley, Warren C., 1983. "Labor for the Picking: the New Deal in the South," The Journal of Economic History, Cambridge University Press, vol. 43(04), pages 905-929, December.
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