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THE SHIFT OF COST CURVES AND AGRICULTURAL RESEARCH BENEFITS
Author(s) -
Wise W. S.
Publication year - 1984
Publication title -
journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.157
H-Index - 61
eISSN - 1477-9552
pISSN - 0021-857X
DOI - 10.1111/j.1477-9552.1984.tb01173.x
Subject(s) - yield (engineering) , agriculture , economics , empirical research , estimation , econometrics , agricultural machinery , environmental economics , agricultural economics , mathematics , statistics , management , ecology , materials science , metallurgy , biology
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.