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Article
Genetic Information in Agricultural Productivity and Product Development
American Journal of Agricultural Economics
  • David A. Hennessy, Iowa State University
  • John A Miranowski, Iowa State University
  • Bruce Babcock, Iowa State University
Document Type
Article
Publication Version
Submitted Manuscript
Publication Date
1-1-2004
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.

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.

Citation Information
David A. Hennessy, John A Miranowski and Bruce Babcock. "Genetic Information in Agricultural Productivity and Product Development" American Journal of Agricultural Economics Vol. 86 Iss. 1 (2004) p. 73 - 87
Available at: http://works.bepress.com/john-miranowski/36/