IDEAS home Printed from https://ideas.repec.org/p/ags/uwapdp/315419.html
   My bibliography  Save this paper

Toward A Framework for Evaluating Agricultural Economics Research

Author

Listed:
  • Lindner, Bob

Abstract

Agricultural economists need to evaluate their own research priorities. The main difficulty in doing so is to value the types of information generated by economic research. Bayesian decision theory provides a framework for valuing information, and the results of selected studies using this methodology are collated. Most of the other determinants of research priorities can be encapsulated in a target return ratio measure. How such a framework might be used is illustrated by three "hypotheticals".

Suggested Citation

  • Lindner, Bob, 1987. "Toward A Framework for Evaluating Agricultural Economics Research," Discussion Papers 315419, University of Western Australia, School of Agricultural and Resource Economics.
  • Handle: RePEc:ags:uwapdp:315419
    DOI: 10.22004/ag.econ.315419
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/315419/files/U_W_AUS_1_87.pdf
    Download Restriction: no

    File URL: https://libkey.io/10.22004/ag.econ.315419?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Byerlee, Derek R. & Anderson, Jock R., 1982. "Risk, Utility and the Value of Information in Farmer Decision Making," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(03), pages 1-16, December.
    2. Eisgruber, Ludwig M., 1978. "Developments In The Economic Theory Of Information," 1978 Annual Meeting, August 6-9, Blacksburg, Virginia 283551, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Solow, Robert M, 1974. "The Economics of Resources or the Resources of Economics," American Economic Review, American Economic Association, vol. 64(2), pages 1-14, May.
    4. Bosch, Darrell & Eidman, Vernon, 1985. "The Value Of Soil Water And Weather/Information In Increasing Irrigation Efficiency," 1985 Annual Meeting, August 4-7, Ames, Iowa 278642, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    5. Logan, Samuel H. & Bullock, J. Bruce, 1970. "Speculation in Commodity Futures: An Application of Statistical Decision Theory," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 22(4), pages 1-8, October.
    6. J. W. Freebairn, 1976. "The Value and Distribution of the Benefits of Commodity Price Outlook Information," The Economic Record, The Economic Society of Australia, vol. 52(2), pages 199-212, June.
    7. Freebairn, J W, 1976. "The Value and Distribution of the Benefits of Commodity Price Outlook Information," The Economic Record, The Economic Society of Australia, vol. 52(138), pages 199-212, June.
    8. John P. Doll, 1971. "Obtaining Preliminary Bayesian Estimates of the Value of a Weather Forecast," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 53(4), pages 651-655.
    9. Hirshleifer, Jack, 1973. "Where Are We in the Theory of Information?," American Economic Review, American Economic Association, vol. 63(2), pages 31-39, May.
    10. Vernon R. Eidman & Gerald W. Dean & Harold O. Carter, 1967. "An Application of Statistical Decision Theory to Commercial Turkey Production," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(4), pages 852-868.
    11. 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 119-130, March.
    12. Ronald W. Hilton, 1981. "The Determinants of Information Value: Synthesizing Some General Results," Management Science, INFORMS, vol. 27(1), pages 57-64, January.
    13. Fisher, Brian S., 1985. "Frontiers in Agricultural Policy Research," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 53(02), pages 1-11, August.
    14. Phillips, John, 1975. "Forum - A Subjective Evaluation Of Resource Allocation Within Agricultural Economics Research: 1958-73," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 43(01), pages 1-5, March.
    15. Kihlstrom, Richard, 1974. "A general theory of demand for information about product quality," Journal of Economic Theory, Elsevier, vol. 8(4), pages 413-439, August.
    16. Campbell, H F & Lindner, R K, 1985. "A Model of Mineral Exploration and Resource Taxation," Economic Journal, Royal Economic Society, vol. 95(377), pages 146-160, March.
    17. Ludwig M. Eisgruber, 1978. "Developments in the Economic Theory of Information," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 60(5), pages 901-905.
    18. Bob Richardson, 1986. "Some Current Issues In The Marketing Of Agricultural Products," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 30(2-3), pages 89-102, 08-12.
    19. Ethridge, M. Dean, 1985. "An Agribusiness Perspective On Usda Data And Analyses," 1985 Annual Meeting, August 4-7, Ames, Iowa 278652, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    20. Vernon W. Ruttan, 1984. "Social Science Knowledge and Institutional Change," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(5), pages 549-559.
    21. Freebairn, John W., 1978. "An Evaluation of Outlook Information for Australian Agricultural Commodities," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), pages 1-21, December.
    22. J. Bruce Bullock & Samuel H. Logan, 1970. "An Application of Statistical Decision Theory to Cattle Feedlot Marketing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 52(2), pages 234-241.
    23. Norton, George W. & Schuh, G. Edward, 1981. "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.
    24. Edwards, Geoff W., 1985. "Frontiers in Agricultural Policy Research: Discussion," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 53(02), pages 1-6, August.
    25. James G. Ryan & Richard K. Perrin, 1974. "Fertilizer Response Information and Income Gains: The Case of Potatoes in Peru," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 56(2), pages 337-343.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. 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.
    2. Kelley, T. G. & Ryan, J. G. & Patel, B. K., 1995. "Applied participatory priority setting in international agricultural research: Making trade-offs transparent and explicit," Agricultural Systems, Elsevier, vol. 49(2), pages 177-216.
    3. Ryan, Jim, 2002. "Assessing the impact of food policy research: rice trade policies in Viet Nam," Food Policy, Elsevier, vol. 27(1), pages 1-29, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lindner, Robert K., 1987. "Toward A Framework For Evaluating Agricultural Economics Research," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 31(2), pages 1-17, August.
    2. Griffith, Garry R., 1978. "An Ex Ante Evaluation of the National Pig Carcase Measurement and Information Service," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), pages 1-22, December.
    3. Freebairn, John W., 1978. "An Evaluation of Outlook Information for Australian Agricultural Commodities," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), pages 1-21, December.
    4. Norton, George W., 1987. "Evaluating Social Science Research in Agriculture," Evaluating Agricultural Research and Productivity, Proceedings of a Workshop, Atlanta, Georgia, January 29-30, 1987, Miscellaneous Publication 52 50028, University of Minnesota, Agricultural Experiment Station.
    5. Norton, George W. & Alwang, Jeffrey, 1997. "Policy for Plenty: Measuring the Benefits of Policy-oriented Social Science Research," Staff Papers 232552, Virginia Polytechnic Institute and State University, Department of Agricultural and Applied Economics.
    6. Good, Darrel L. & Irwin, Scott H. & Isengildina, Olga, 2006. "The Value of USDA Situation and Outlook Information in Hog and Cattle Markets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(2), pages 1-21, August.
    7. repec:ags:mididp:152396 is not listed on IDEAS
    8. Jacobs, James J. & Held, Larry J., 1989. "A Case Analysis of Stream Flow Forecasts with Reference to Fertilizing Mountain Hay Meadows," WAEA/ WFEA Conference Archive (1929-1995) 244964, Western Agricultural Economics Association.
    9. 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.
    10. Antonovitz, Frances & Roe, Terry, 1986. "A Theoretical and Empirical Approach to the Value of Information in Risky Markets," The Review of Economics and Statistics, MIT Press, vol. 68(1), pages 105-114, February.
    11. Kizito, Andrew M., 2009. "Estimating the Benefits from Improved Market Information," Graduate Research Master's Degree Plan B Papers 48844, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    12. Karali, Berna & Isengildina-Massa, Olga & Irwin, Scott H. & Adjemian, Michael K. & Johansson, Robert, 2019. "Are USDA reports still news to changing crop markets?," Food Policy, Elsevier, vol. 84(C), pages 66-76.
    13. Christy, Ralph D., 1994. "Private Strategies and Public Policies: The Economics of Information and the Economic Organization of Markets," Staff Papers 121314, Cornell University, Department of Applied Economics and Management.
    14. Kizito, Andrew M. & Donovan, Cynthia & Staatz, John M., 2012. "Impact of Agricultural Market Information Systems Activities on Market Performance in Mozambique: Mozambique Country Report," Food Security International Development Working Papers 169572, Michigan State University, Department of Agricultural, Food, and Resource Economics.
    15. Jackson, Ron, 1975. "Decision Analysis And Farm Management: The Need For A New Perspective," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 43(03), pages 1-5, September.
    16. Ates, Aaron M. & Lusk, Jayson L. & Brorsen, B. Wade, 2019. "Forecasting Meat Prices Using Consumer Expectations from the Food Demand Survey (FooDS)," Journal of Food Distribution Research, Food Distribution Research Society, vol. 50(1), March.
    17. Schimmelpfennig, David E. & Norton, George W., 2000. "What Value Is Agricultural Economics Research?," 2000 Annual meeting, July 30-August 2, Tampa, FL 21773, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    18. Vernon Ruttan, 1980. "Bureaucratic productivity: The case of agricultural research," Public Choice, Springer, vol. 35(5), pages 529-547, January.
    19. Mulkey, David, 1984. "Data Use by Agricultural Economists: Opportunities for Automated Data Retrieval," 1984 Annual Meeting, August 5-8, Ithaca, New York 278716, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    20. Goh, Siew & Shih, Chao-Chyuan & Cochran, Mark J. & Raskin, Rob, 1989. "A Generalized Stochastic Dominance Program For The Ibm Pc," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 21(2), pages 1-8, December.
    21. Christy, Ralph D., 1982. "Evaluating Market Information Systems By Firm Decisions: A Michigan Processed Potato Industry Case Study," Journal of Food Distribution Research, Food Distribution Research Society, vol. 13(3), pages 1-9, September.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:uwapdp:315419. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aruwaau.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.