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Genetic Information in Agricultural Productivity and Product Development

Author

Listed:
  • David A. Hennessy
  • John A. Miranowski
  • Bruce A. Babcock

Abstract

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.

Suggested Citation

  • David A. Hennessy & John A. Miranowski & Bruce A. Babcock, 2004. "Genetic Information in Agricultural Productivity and Product Development," American Journal of Agricultural Economics, John Wiley & Sons, vol. 86(1), pages 73-87, February.
    • Handle: RePEc:wly:ajagec:v:86:y:2004:i:1:p:73-87
    DOI: 10.1111/j.1467-8276.2004.tb18457.x
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    References listed on IDEAS

    as
    1. Juan Dubra & Federico Echenique, 2001. "Measurability Is Not about Information," Cowles Foundation Discussion Papers 1296, Cowles Foundation for Research in Economics, Yale University.
    2. Allen, Beth, 1983. "Neighboring information and distributions of agents' characteristics under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 12(1), pages 63-101, September.
    3. Alfred D. Chandler, 1992. "Organizational Capabilities and the Economic History of the Industrial Enterprise," Journal of Economic Perspectives, American Economic Association, vol. 6(3), pages 79-100, Summer.
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