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Market level economic impacts of modified soybeans

Author

Listed:
  • Chanjin Chung

    (313 Warren Hall, Department of Agricultural, Resource, and Managerial Economics, Cornell University, Ithaca, NY 14853-7801)

  • Brian L. Buhr

    (Department of Applied Economics, University of Minnesota)

Abstract

Introduction of biotechnologically modified soybeans will have significant impacts on the US soybean and associated industries. However, technical trade-offs of yield and quality attributes make it difficult to determine which modifications offer the highest potential pay-off and warrant the greatest emphasis in research, development, and, ultimately, market development. In this study, attention is focused on soybeans with modified protein and amino acid compositions where the primary end-use is livestock feed. A generalized dynamic simulation model combining a linear programming model and an econometric model allows for market interactions between soybean and soy-product industries, the livestock industry, and other closely related crop sectors. Results suggest all selected new soybeans promise significant welfare gains. © 1997 John Wiley & Sons, Inc.

Suggested Citation

  • Chanjin Chung & Brian L. Buhr, 1997. "Market level economic impacts of modified soybeans," Agribusiness, John Wiley & Sons, Ltd., vol. 13(5), pages 469-482.
    • Handle: RePEc:wly:agribz:v:13:y:1997:i:5:p:469-482
    DOI: 10.1002/(SICI)1520-6297(199709/10)13:5<469::AID-AGR2>3.0.CO;2-4
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    Cited by:

    1. Chung, Chanjin & Pettigrew, James E., 1998. "Economics Of Soybean Biotechnology In The Livestock Industry," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 1(3), pages 1-13.
    2. Demont, Matty & Tollens, Eric, 2001. "Uncertainties Of Estimating The Welfare Effects Of Agricultural Biotechnology In The European Union," Working Papers 31828, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    3. Pritchett, James G. & Thilmany, Dawn D. & Johnson, Kamina K., 2005. "Animal Disease Economic Impacts: A Survey of Literature and Typology of Research Approaches," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 8(1), pages 1-23.

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