Measuring research benefits in an imperfect market
Document Type
Journal article
Source Publication
Agricultural Economics
Publication Date
1-1-1994
Volume
10
Issue
1
First Page
89
Last Page
93
Publisher
Elsevier
Abstract
In this paper, an imperfect market model is developed for evaluating agricultural research benefits. The main finding is that the increases in societal gain, and the producer's share of this gain, are larger with a monopoly than with a competitive market. The paper argues that if the market for an agricultural input or for a commodity is not competitive, then use of a competitive model for assessing research benefits could lead to understatements of both producer and total benefits.
DOI
10.1016/0169-5150(94)90043-4
Print ISSN
01695150
E-ISSN
15740862
Publisher Statement
Copyright © 1994 Elsevier Science B.V. All rights reserved. Access to external full text or publisher's version may require subscription.
Full-text Version
Publisher’s Version
Language
English
Recommended Citation
Voon, T. J. (1994). Measuring research benefits in an imperfect market. Agricultural Economics, 10(1), 89-93. doi: 10.1016/0169-5150(94)90043-4