Consumption of Economic Information in Agriculture

14 Pages Posted: 31 Mar 2020

See all articles by David R. Just

David R. Just

Cornell University - Charles H. Dyson School of Applied Economics and Management

Steven A. Wolf

Cornell University - Department of Natural Resources

Steve Wu

Ohio State University (OSU)

David Zilberman

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

Multiple version iconThere are 2 versions of this paper

Date Written: February 2002

Abstract

We develop a model of decision makers' demand for agricultural economic information services. This modeltreats choice of externaldecision‐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 structuraland functional relationships in agricultural economic information systems.

Keywords: information, uncertainty, value of information, D830, Q120, Q130

Suggested Citation

Just, David R. and Wolf, Steven A. and Wu, Steve and Zilberman, David, Consumption of Economic Information in Agriculture (February 2002). American Journal of Agricultural Economics, Vol. 84, Issue 1, pp. 39-52, 2002, Available at SSRN: https://ssrn.com/abstract=3564613 or http://dx.doi.org/10.1111/1467-8276.00241

David R. Just (Contact Author)

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

Ithaca, NY
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Steven A. Wolf

Cornell University - Department of Natural Resources ( email )

206F Fernow Hall
Ithaca, NY 14853
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HOME PAGE: http://www.dnr.cornell.edu/facstf/wolf.htm

Steve Wu

Ohio State University (OSU)

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Columbus, OH OH 43210
United States

David Zilberman

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

Berkeley, CA 94720
United States

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