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The State Contingent Approach to Farmers' Valuation and Adoption of New Biotech Crops: Nitrogen-Fertilizer Saving and Drought Tolerance Traits

Author

Listed:
  • Jaramillo, Paul E.
  • Useche, Pilar
  • Barham, Bradford L.
  • Foltz, Jeremy D.

Abstract

We used a state contingent approach to give a detailed analysis of the uncertainty surrounding seed trait adoption. Our framework emphasizes the role of timing and information in farmers’ adoption decisions. The inherent embeddedness of seed traits results in timing restrictions and the inability of post-planting adjustments, this in turn results in farmers necessarily engaging in a game with nature. Two main types of traits we identify are supplementing traits and stabilizing traits – classification into each category is directly related on the mobility of the production factor the trait intends to substitute. Supplementing traits allow for acting after nature (i.e., ex post) while stabilizing traits are better modeled as acting before nature (i.e., ex ante). The type of trait results in different determinants of the farmers’ WTP function.

Suggested Citation

  • Jaramillo, Paul E. & Useche, Pilar & Barham, Bradford L. & Foltz, Jeremy D., 2010. "The State Contingent Approach to Farmers' Valuation and Adoption of New Biotech Crops: Nitrogen-Fertilizer Saving and Drought Tolerance Traits," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61860, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea10:61860
    DOI: 10.22004/ag.econ.61860
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    Cited by:

    1. Shankar, Sriram, 2012. "Production economics in the presence of risk," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 56(4), pages 1-24, December.

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