The output of agricultural economics research is information, much of it aimed at designing or improving institutions. Bayesian decision theory and economic surplus analysis have been suggested as possible approaches to evaluate that information. This article takes a critical look at the...

Economists provide sometimes contradictory information about economic systems that contribute to policy design. How does one value this type of knowledge? A political-economic game is presented that allows for reinforcing and contradictory research messages. Policy makers are assumed to follow a...

The output of agricultural economics research is information, much of it aimed at designing or improving institutions. Bayesian decision theory and economic surplus analysis have been suggested as possible approaches to evaluate that information. This article takes a critical look at the...