Measuring research benefits in an imperfect market

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

6 Citations (Scopus)

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.
Original languageEnglish
Pages (from-to)89-93
Number of pages5
JournalAgricultural Economics
Volume10
Issue number1
DOIs
Publication statusPublished - 1 Jan 1994
Externally publishedYes

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Research benefits
Imperfect markets
Competitive market
Agricultural research
Market model
Commodities
Monopoly
Competitive model

Cite this

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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.",
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Measuring research benefits in an imperfect market. / VOON, Jan Piaw, Thomas.

In: Agricultural Economics, Vol. 10, No. 1, 01.01.1994, p. 89-93.

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

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AB - 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.

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