Conjoint measurement was used to determine consumer preference for fresh pork produced with genetically engineered porcine somatotropin (pST). A preference model was constructed based on three pork attributes, degree of fat reduction, price, and production technology, which allowed for...

In this study, elicited estimates of farmers' subjective beliefs about the mean and variance of wheat variety yields were used to test propositions about Bayesian learning developed in the recent literature on innovation adoption. A series of empirical tests of the Bayesian adoption model were...

In the absence of some form of government intervention, knowledge is a classic public good which will be under-produced because of lack of price excludability. Government intervention may take the form of establishing intellectual property rights, or other means of shielding knowledge-based...

Fluctuating annual harvest volumes create a peak load problem in the provision of grain storage capacity. There are a number of technologies for handling and storing grain, ranging from capital intensive to labour intensive methods. Optimal provision of grain storage capacity can therefore be...

Some hypotheses about the timing of farmers becoming aware of an innovation and the subsequent decision to use that innovation are derived from a recently developed, decision-theoretic model of the adoption process. They are tested using empirical evidence on the time taken by early adopters of...

Agricultural economists need to evaluate their own research priorities. The main difficulty in doing so is to value the types of information generated by economic research. Bayesian decision theory provides a framework for valuing information, and the results of selected studies using this...