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Genetic Information in Agricultural Productivity and Product Development

Author

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

Abstract

A prominent facet of recent changes in agriculture has been the advent of precision breeding techniques. Another has been an increase in the level of information inputs and outputs associated with agricultural production. This paper identifies ways in which these features may complement in expanding the variety of processed products, the level of productivity, and the rate of change in productivity. Using a martingale concept of "more information," we identify conditions under which more information increases the incentives to invest and engage in product differentiation. A theory on how genetic uniformity can enhance the rate of learning through process experimentation, and so the rate of technical change, is also developed.

Suggested Citation

  • David A. Hennessy & John Miranowski & Bruce A. Babcock, 2003. "Genetic Information in Agricultural Productivity and Product Development," Center for Agricultural and Rural Development (CARD) Publications 03-wp329, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  • Handle: RePEc:ias:cpaper:03-wp329
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Hennessy, David A., 2007. "Informed control over inputs and extent of industrial processing," Economics Letters, Elsevier, vol. 94(3), pages 372-377, March.
    2. Lambert, David K., 2008. "The expected utility of genetic information in beef cattle production," Agricultural Systems, Elsevier, vol. 99(1), pages 44-52, December.
    3. Bulut, Harun & Lawrence, John D., 2007. "Meat Slaughter and Processing Plants' Traceability Levels Evidence From Iowa," Staff General Research Papers Archive 12791, Iowa State University, Department of Economics.
    4. Antonio Seccia & Antonio Stasi & Luigi Roselli, 2006. "Atteggiamento dei consumatori nei confronti dell'evoluzione del sistema agro-alimentare: l'introduzione di alimenti geneticamente modificati," ECONOMIA AGRO-ALIMENTARE, FrancoAngeli Editore, vol. 10(1).
    5. Parcell, Joseph L. & Franken, Jason R.V. & Schafer, Daniel & Patterson, David J. & John, Mike & Kerley, Monty S. & Haden, Kent, 2011. "Coordinating Sire Genetics in a Synchronized AI Program," Journal of the ASFMRA, American Society of Farm Managers and Rural Appraisers.
    6. Parcell, Joseph L. & Schaefer, Daniel & Patterson, David J. & John, Mike & Kerley, Monty S. & Haden, Kent, 2008. "Assessing the Value of Coordinated Sire Genetics in a Synchronized AI Program," 2008 Conference, April 21-22, 2008, St. Louis, Missouri 37618, NCCC-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management.
    7. David A. Hennessy, 2005. "Slaughterhouse Rules: Animal Uniformity and Regulating for Food Safety in Meat Packing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(3), pages 600-609.
    8. Thompson, Nathanael M. & DeVuyst, Eric A. & Brorsen, B. Wade & Lusk, Jayson L., 2014. "Value of Genetic Information for Management and Selection of Feedlot Cattle," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 39(1), April.

    More about this item

    Keywords

    experimentation; genetics; information; martingale; sorting; uniformity; value added.;

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • L0 - Industrial Organization - - General
    • N5 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries

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