Consumption of Economic Information in Agriculture

Posted: 1 Jun 2002

See all articles by David R. Just

David R. Just

Cornell University - Dyson School of Applied Economics and Management

Steven A. Wolf

Cornell University - Department of Natural Resources

Steven Y. Wu

Ohio State University (OSU) - Department of Agricultural, Environmental & Development Economics; IZA Institute of Labor Economics

David Zilberman

University of California, Berkeley - Department of Agricultural & Resource Economics

Abstract

We develop a model of decision makers' demand for agricultural economic information services. This model treats choice of external decision-support services as a function of actors' assessment of how alternative investments in information complement their internal competencies. Data from a survey in four commodity systems are used to evaluate hypotheses as to how human capital, and functional role of actors in commodity systems affect demand for variously formatted information. By focusing on three axes of heterogeneity - diversity among decision makers, information service providers, and information - we are able to identify key structural and functional relationships in agricultural economic information systems.

Keywords: information, uncertainty, value of information

Suggested Citation

Just, David R. and Wolf, Steven A. and Wu, Steven Yu-Ping and Zilberman, David, Consumption of Economic Information in Agriculture. American Journal of Agricultural Economics, Vol. 84, pp. 39-52, 2002. Available at SSRN: https://ssrn.com/abstract=308789

David R. Just (Contact Author)

Cornell University - Dyson School of Applied Economics and Management ( email )

Ithaca, NY
United States
607-255-2086 (Phone)
607-255-9984 (Fax)

Steven A. Wolf

Cornell University - Department of Natural Resources ( email )

206F Fernow Hall
Ithaca, NY 14853
607-255-7778 (Phone)
607-255-0349 (Fax)

HOME PAGE: http://www.dnr.cornell.edu/facstf/wolf.htm

Steven Yu-Ping Wu

Ohio State University (OSU) - Department of Agricultural, Environmental & Development Economics ( email )

2120 Fyffe Rd
Columbus, OH 43210-1067
United States
614-247-7494 (Phone)

HOME PAGE: http://www-agecon.ag.ohio-state.edu/people/display.cfm?User_ID=wu412

IZA Institute of Labor Economics

P.O. Box 7240
Bonn, D-53072
Germany

David Zilberman

University of California, Berkeley - Department of Agricultural & Resource Economics ( email )

Berkeley, CA 94720
United States

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