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Genetic Information in Agricultural Productivity and Product Development

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

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 モmore information,ヤ 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.

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File URL: http://www.econ.iastate.edu/sites/default/files/publications/papers/paper_10340.pdf
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10340.

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Date of creation: 03 Apr 2003
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Publication status: Published in American Journal of Agricultural Economics, February 2004, vol. 86 no. 1, pp. 73-87
Handle: RePEc:isu:genres:10340
Contact details of provider: Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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  1. Jonathan Levin & Susan Athey, 2001. "The Value of Information in Monotone Decision Problems," Working Papers 01003, Stanford University, Department of Economics.
  2. Robert G. Chambers & John Quiggin, . "Information and the Risk-Averse Firm," Risk & Uncertainty Working Papers WPR03_2, Risk and Sustainable Management Group, University of Queensland.
  3. Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
  4. Peter Bogetoft & Henrik Ballebye Olesen, 2003. "Incentives, Information Systems, and Competition," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(1), pages 234-247.
  5. Juan Dubra & Federico Echenique, 2001. "Measurability Is Not about Information," Cowles Foundation Discussion Papers 1296, Cowles Foundation for Research in Economics, Yale University.
  6. Knoeber, Charles R, 1989. "A Real Game of Chicken: Contracts, Tournaments, and the Production of Broilers," Journal of Law, Economics and Organization, Oxford University Press, vol. 5(2), pages 271-92, Fall.
  7. Ferrier, Peyton Michael, 2002. "Measurement Of Grading Error Costs In The Beef Industry," 2002 Annual meeting, July 28-31, Long Beach, CA 19906, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  8. Hennessy, David A., 1996. "Information Asymmetry As a Reason for Food Industry Vertical Integration," Staff General Research Papers 5032, Iowa State University, Department of Economics.
  9. 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.
  10. Allen, Douglas W & Lueck, Dean, 1998. "The Nature of the Farm," Journal of Law and Economics, University of Chicago Press, vol. 41(2), pages 343-86, October.
  11. Allen, Beth, 1983. "Neighboring information and distributions of agents' characteristics under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 12(1), pages 63-101, September.
  12. Nelson, Richard R & Winter, Sidney G, 1982. "The Schumpeterian Tradeoff Revisited," American Economic Review, American Economic Association, vol. 72(1), pages 114-32, March.
  13. Andrea Bonaccorsi & Paola Giuri, 2000. "The long term evolution of vertically-related industries," LEM Papers Series 2000/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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