THE SHIFT OF COST CURVES AND AGRICULTURAL RESEARCH BENEFITS

WILLIAM S. WISE

11 citations0/0 files storedJournal of Agricultural Economics

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Agricultural economics and policies Agricultural Innovations and Practices Agricultural Economics and Practices

Abstract

In the estimation of agricultural research benefits, so far the only procedure taking into account the conditions under which new technology is introduced has been the semi‐empirical Lindner‐Jarrett construction. The present paper describes quantitatively the effect of various factors on the benefit estimate: original cost curve, technical parameters (yield increase and implementation cost), willingness to adopt new technology, and the market mechanism. Numerical results are given from which it is concluded that empirical constructions are unsatisfactory and that some overestimation of research benefits in previous analyses may well have occurred.

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References

1958Research Costs and Social Returns: Hybrid Corn and Related Innovations 1971The Concept of Economic Surplus and Its Use in Economic Analysis 1978Supply Shifts and the Size of Research Benefits 1980Supply Shifts and Research Benefits: Comment 1982Distribution of Research Gains in Multistage Production Systems 1980Supply Shifts and the Size of Research Benefits: Comment 1983Agricultural research policy 1974Costs and benefits of an agricultural research institute

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