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Valuing New Varieties: Trade‐Offs between Growers and End‐Users in Wheat
Author(s) -
Dahl Bruce L.,
Wilson William W.,
Johnson D. Demcey
Publication year - 2004
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1111/j.1467-9353.2003.00163.x
Subject(s) - quality (philosophy) , variety (cybernetics) , resistance (ecology) , value (mathematics) , business , economics , microbiology and biotechnology , agricultural science , agronomy , mathematics , biology , statistics , philosophy , epistemology
Variety release decisions usually involve trade‐offs between growers and end‐users as well as substantial uncertainties about agronomic, quality, and economic variables. In this paper, methodologies were developed to value grower and end‐user characteristics for individual wheat varieties and to evaluate trade‐offs. The models capture effects of variability in agronomic, quality, and economic variables and were applied to experimental and hypothetical varieties. Results indicate two experimental varieties provide improvements in grower and end‐use value over most of the incumbents. Though applied to a specific grain and region, the approach is applicable to other grains and oilseeds that have multiple agronomic and quality attributes.