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Genetic Information in Agricultural Productivity and Product Development

  • John A. Miranowski
  • Bruce A. Babcock

Two prominent features of recent changes in agriculture have been the advent of precision breeding techniques and an increase in the level of information netputs in production. This article identifies ways in which these features may complement in expanding the variety of processed products, level of productivity, and rate of change in productivity. Using a martingale concept of information, we identify conditions under which information increases the incentives to invest and engage in product differentiation activities. A theory on how genetic uniformity can enhance the rate of learning through process experimentation, and so the rate of technical change, is developed. Copyright 2004, Oxford University Press.

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File URL: http://hdl.handle.net/10.1111/j.0092-5853.2004.00563.x
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Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 86 (2004)
Issue (Month): 1 ()
Pages: 73-87

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Handle: RePEc:oup:ajagec:v:86:y:2004:i:1:p:73-87
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  1. 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.
  2. Andrea Bonaccorsi & Paola Giuri, 2000. "The long term evolution of vertically-related industries," LEM Papers Series 2000/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
  3. 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.
  4. 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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  6. 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.
  7. 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.
  8. Chambers, Robert G. & Quiggin, John, 2001. "Information and the Risk-Averse Firm," Working Papers 197599, University of Maryland, Department of Agricultural and Resource Economics.
  9. Susan Athey & Jonathan Levin, 1998. "The Value of Information In Monotone Decision Problems," Working papers 98-24, Massachusetts Institute of Technology (MIT), Department of Economics.
  10. 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).
  11. Nelson, Richard R & Winter, Sidney G, 1982. "The Schumpeterian Tradeoff Revisited," American Economic Review, American Economic Association, vol. 72(1), pages 114-32, March.
  12. 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.
  13. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
  14. Allen, Beth, 1983. "Neighboring information and distributions of agents' characteristics under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 12(1), pages 63-101, September.
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