This paper investigates the effects of crop genetic diversity on farm productivity and production risk in the highlands of Ethiopia. Using a moment-based approach, the analysis uses a stochastic production function capturing mean, variance, and skewness effects. Welfare implications of diversity...

A theoretical model is developed and applied to the search for disease and pest resistance in ex situ collections of wheat genetic resources, employing actual data on frequency distributions, disease losses, and search costs. Experiments developed from case studies clarify several misperceptions...

Genetic improvement has been a major contributor to agricultural productivity in the United States, but many questions about the economics of crop breeding, such as the value of pre-commercial germplasm, remain unanswered. This study estimates the marginal value of poorly characterized materials...

A theoretical model is developed and applied to the search for disease and pest resistance in ex situ collections of wheat genetic resources, employing actual data on frequency distributions, disease losses, and search costs. Experiments developed from case studies clarify several misperceptions...

Recent criticisms of the “green revolution” wheats concern the effects of their popularity on crop diversity and the consequences for productivity and conservation. We use a Just-Pope production function to test the relationship of genetic resource and diversity variables to mean and...

Genetic improvement has been a major contributor to agricultural productivity in the United States, but many questions about the economics of crop breeding, such as the value of pre-commercial germplasm, remain unanswered. This study estimates the marginal value of poorly characterized materials...

A conceptual model of storage behavior is developed. Optimal intertemporal pricing is derived to analyze the effects of transaction costs on storage and arbitrage pricing. It is shown how transaction costs can rationalize the existence of an inverse carrying charge for inventory. The model is...