Genetic Information in Agricultural Productivity and Product Development

Posted: 11 Mar 2004

See all articles by David A. Hennessy

David A. Hennessy

Iowa State University - Department of Economics

John A. Miranowski

Iowa State University - Department of Economics

Bruce A. Babcock

Iowa State University - Department of Economics

Abstract

Two prominent features of recent changes in agriculture have been the advent of precision breeding techniques and an increase in the level of information netputs in production. This article identifies ways in which these features may complement in expanding the variety of processed products, level of productivity, and rate of change in productivity. Using a martingale concept of information, we identify conditions under which information increases the incentives to invest and engage in product differentiation activities. A theory on how genetic uniformity can enhance the rate of learning through process experimentation, and so the rate of technical change, is developed.

Suggested Citation

Hennessy, David A. and Miranowski, John A. and Babcock, Bruce A., Genetic Information in Agricultural Productivity and Product Development. Available at SSRN: https://ssrn.com/abstract=513301

David A. Hennessy (Contact Author)

Iowa State University - Department of Economics ( email )

260 Heady Hall
Ames, IA 50011
United States
515-294-6171 (Phone)

John A. Miranowski

Iowa State University - Department of Economics ( email )

260 Heady Hall
Ames, IA 50011
United States
515-294-6132 (Phone)
515-294-6644 (Fax)

HOME PAGE: http://www.econ.iastate.edu/faculty/miranowski/

Bruce A. Babcock

Iowa State University - Department of Economics ( email )

Heady Hall
578 Heady Hall
Ames, IA 50011-2063
United States

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