Title

The calculation of research benefits with linear and non-linear specifications of the demand and supply : reply

Document Type

Journal article

Source Publication

American Journal of Agricultural Economics

Publication Date

11-1-1997

Volume

79

Issue

4

First Page

1368

Last Page

1371

Publisher

Oxford University Press

Abstract

Elbasha argues that Voon and Edwards overestimated the gains from research when there is a pivotal shift in a linear supply curve and the elasticity of supply is less than unity. He says the difference in his position and ours is due to the use of different measures of producer surplus. The difference instead can be interpreted to center on the specification of the supply curve under inelastic supply. We have experience of the issue in contention being raised in other forums, and we are pleased to have the opportunity to address it.

DOI

10.2307/1244293

Print ISSN

00029092

E-ISSN

14678276

Publisher Statement

Copyright © 1997 American Agricultural Economics Association. Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Recommended Citation

Edwards, G. W., & Voon, J. P. (1997). The calculation of research benefits with linear and non-linear specifications of the demand and supply: Reply. American Journal of Agricultural Economics, 79(4), 1368-1371. doi: 10.2307/1244293

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