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
Language
English
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