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The Sensitivity of Returns to Research Calculations to Supply Elasticity

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  • James F. Oehmke
  • Eric W. Crawford

Abstract

Returns to research are thought to be robust under alternative supply elasticity assumptions. We show, both conceptually and numerically, how advances in approximating social benefits make returns to research sensitive to the supply elasticity. Despite this greater sensitivity, these advances retain conceptual and practical advantages. We make recommendations for dealing with the increased sensitivity. Copyright 2002, Oxford University Press.

Suggested Citation

  • James F. Oehmke & Eric W. Crawford, 2002. "The Sensitivity of Returns to Research Calculations to Supply Elasticity," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 366-369.
    • Handle: RePEc:oup:ajagec:v:84:y:2002:i:2:p:366-369
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    File URL: http://hdl.handle.net/10.1111/1467-8276.00303
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    Cited by:

    1. Alston, Julian M. & Freebairn, John W. & James, Jennifer S., 2004. "Levy-funded research choices by producers and society," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 1-32.
    2. Weatherspoon Dave D. & Miller Steven R. & Weatherspoon Lorraine J. & Niyitanga Fidele & Oehmke James F., 2021. "Rwanda’s Commercialization of Smallholder Agriculture: Implications for Rural Food Production and Household Food Choices," Journal of Agricultural & Food Industrial Organization, De Gruyter, vol. 19(1), pages 51-62, May.
    3. Pedro Andres Garzon Delvaux & Heinrich Hockmann & Peter Voigt & Pavel Ciaian & Sergio Gomez y Paloma, 2018. "The impact of private R&D on the performance of food-processing firms: Evidence from Europe, Japan and North America," JRC Research Reports JRC104144, Joint Research Centre.
    4. Oehmke, James F. & Crawford, Eric W., 2004. "Analysis Of Projects With Price Effects, And Application To Innovation And Technical Change," Staff Paper Series 11766, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    5. Falck-Zepeda, Jose & Horna, Daniela & Smale, Melinda, 2007. "The economic impact and the distribution of benefits and risk from the adoption of insect resistant (Bt) cotton in West Africa," IFPRI discussion papers 718, International Food Policy Research Institute (IFPRI).
    6. Frisvold, George & Reeves, Jeanne, 2015. "Genetically Modified Crops: International Trade And Trade Policy Effects," International Journal of Food and Agricultural Economics (IJFAEC), Alanya Alaaddin Keykubat University, Department of Economics and Finance, vol. 3(2), pages 1-13, April.
    7. Kim, Yun-Shik & Sumner, Daniel A., 2005. "Measuring Research Benefits With Import Ban Restrictions, Quality Changes, Non-Market Influences On Adoption And Food Security Incentives," 2005 Annual meeting, July 24-27, Providence, RI 19148, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    8. Guettler, Stefan & Seidel-Lass, Linda & Mueller, Rolf A.E., 2012. "Simulating the spillover benefits from R&D by a small producer country embedded in a co-authorship network: Aquaculture R&D in Germany," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 122885, International Association of Agricultural Economists.
    9. Goddard, Ellen W. & Shank, Benjamin & Panter, Chris & Nilsson, Tomas K.H. & Cash, Sean B., 2007. "Canadian Chicken Industry: Consumer Preferences, Industry Structure and Producer Benefits from Investment in Research and Advertising," Project Report Series 52088, University of Alberta, Department of Resource Economics and Environmental Sociology.
    10. Bekele A. Shiferaw & Tewodros A. Kebede & Liang You, 2008. "Technology adoption under seed access constraints and the economic impacts of improved pigeonpea varieties in Tanzania," Agricultural Economics, International Association of Agricultural Economists, vol. 39(3), pages 309-323, November.
    11. Qaim, Matin, 2003. "Bt Cotton in India: Field Trial Results and Economic Projections," World Development, Elsevier, vol. 31(12), pages 2115-2127, December.

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