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What Value Is Agricultural Economics Research?

  • Schimmelpfennig, David E.
  • Norton, George W.

Methods are presented for evaluating the economic benefits of agricultural economics research (AER). Decision theory and economic surplus analysis are used to evaluate returns to five representative types of AER. Benefits stem from effects of AER on economic efficiency through reduced uncertainty about optimal resource allocation or improved institutional design.

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File URL: http://purl.umn.edu/21773
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2000 Annual meeting, July 30-August 2, Tampa, FL with number 21773.

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Date of creation: 2000
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Handle: RePEc:ags:aaea00:21773
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  1. Harwood, Joy L. & Heifner, Richard G. & Coble, Keith H. & Perry, Janet E. & Somwaru, Agapi, 1999. "Managing Risk in Farming: Concepts, Research, and Analysis," Agricultural Economics Reports 34081, United States Department of Agriculture, Economic Research Service.
  2. Crutchfield, Stephen R. & Buzby, Jean C. & Roberts, Tanya & Ollinger, Michael & Lin, Chung-Tung Jordan, 1997. "Economic Assessment of Food Safety Regulations: The New Approach to Meat and Poultry Inspection," Agricultural Economics Reports 34009, United States Department of Agriculture, Economic Research Service.
  3. Hayami, Yujiro & Peterson, Willis, 1972. "Social Returns to Public Information Services: Statistical Reporting of U. S. Farm Commodities," American Economic Review, American Economic Association, vol. 62(1), pages 119-30, March.
  4. Schultz, Theodore W, 1975. "The Value of the Ability to Deal with Disequilibria," Journal of Economic Literature, American Economic Association, vol. 13(3), pages 827-46, September.
  5. Brent R. Moulton, 1996. "Bias in the Consumer Price Index: What Is the Evidence?," Journal of Economic Perspectives, American Economic Association, vol. 10(4), pages 159-177, Fall.
  6. Gardner, Bruce L., 1997. "Returns to Policy-Related Social Science Research in Agriculture," Working Papers 197845, University of Maryland, Department of Agricultural and Resource Economics.
  7. Norton, George W. & Schuh, G. Edward, 1980. "Evaluating Returns to Social Science Research: Issues and Possible Methods," Evaluation of Agricultural Research, Proceedings of a Workshop, Minneapolis, MN, May 12-13, 1980, Miscellaneous Publication 8 49076, University of Minnesota, Agricultural Experiment Station.
  8. Somwaru, Agapi & Makki, Shiva S. & Coble, Keith H., 1998. "Adverse Selection In The Market For Crop Insurance," 1998 Annual meeting, August 2-5, Salt Lake City, UT 21002, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  9. Freebairn, John W., 1976. "Welfare Implications Of More Accurate Rational Forecast Prices," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(02), August.
  10. George W. Norton & Jeffrey Alwang, 1997. "Measuring the Benefits of Policy Research," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1534-1538.
  11. Bradford, David F & Kelejian, Harry H, 1977. "The Value of Information for Crop Forecasting in a Market System: Some Theoretical Issues," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 519-31, October.
  12. Charles L. Ballard & John B. Shoven & John Whalley, 1982. "The Welfare Cost of Distortions in the United States Tax System: A General Equilibrium Approach," NBER Working Papers 1043, National Bureau of Economic Research, Inc.
  13. Makki, Shiva S. & Somwaru, Agapi, 2001. "Asymmetric Information in the Market for Yield and Revenue Insurance Products," Technical Bulletins 33587, United States Department of Agriculture, Economic Research Service.
  14. Ballard, Charles L & Shoven, John B & Whalley, John, 1985. "General Equilibrium Computations of the Marginal Welfare Costs of Taxes in the United States," American Economic Review, American Economic Association, vol. 75(1), pages 128-38, March.
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