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

Geoff W. EDWARDS, Jan Piaw, Thomas VOON

    Research output: Journal PublicationsJournal Article (refereed)

    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.
    Original languageEnglish
    Pages (from-to)1368-1371
    Number of pages4
    JournalAmerican Journal of Agricultural Economics
    Volume79
    Issue number4
    DOIs
    Publication statusPublished - 1 Nov 1997

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    supply balance
    Elasticity
    supply elasticities
    Research
    Demand and supply
    Research benefits

    Cite this

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    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.",
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    year = "1997",
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    journal = "American Journal of Agricultural Economics",
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    The calculation of research benefits with linear and non-linear specifications of the demand and supply : reply. / EDWARDS, Geoff W.; VOON, Jan Piaw, Thomas.

    In: American Journal of Agricultural Economics, Vol. 79, No. 4, 01.11.1997, p. 1368-1371.

    Research output: Journal PublicationsJournal Article (refereed)

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    N2 - 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.

    AB - 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.

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