Title

Genetic Information in Agricultural Productivity and Product Development

Campus Units

Economics, Center for Agricultural and Rural Development

Document Type

Article

Publication Version

Submitted Manuscript

Publication Date

2004

Journal or Book Title

American Journal of Agricultural Economics

Volume

86

Issue

1

First Page or Article ID Number

73

Last Page

87

DOI

10.1111/j.0092-5853.2004.00563.x

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.

JEL Classification

Q11, Q16

Comments

This working paper was published as Hennessy, David A., John A. Miranowski and Bruce A. Babcock, "Genetic Information in Agricultural Productivity and Product Development," American Journal of Agricultural Economics 86 (2004): 73–87. DOI: 10.1111/j.0092-5853.2004.00563.x.