Ex ante evaluation of the economic impact of agricultural biotechnology: the case of porcine somatotropin

Introduction of a new growth hormone, porcine somatotropin, will have a significant impact on the U.S. pork industry. Ex ante effects are estimated using a linear elasticity model, which accounts for interrelationships between domestic and international markets for hogs and pork, different adoption...

Full description

Saved in:
Bibliographic Details
Published in:American journal of agricultural economics 1989-11, Vol.71 (4), p.903-914
Main Authors: Lemieux, Catherine M., Wohlgenant, Michael K.
Format: Article
Language:English
Subjects:
Adoption rates
Agricultural technology
BALANCE DE PROVISIONES
BILAN D'APPROVISIONNEMENT
BIOTECHNOLOGIE
Biotechnology
BIOTECNOLOGIA
CARNE DE CERDO
CERDO
COMERCIO INTERIOR
COMMERCE INTERIEUR
Consumer economics
Derived demand
ECONOMIA
economic surplus
ECONOMIE
Elasticity of demand
ESTADOS UNIDOS DE AMERICA
ETATS-UNIS
EXCEDENT
EXCEDENTES
FORMACION DE PRECIOS
FORMATION DES PRIX
Hogs
HORMONAS PITUITARIAS
HORMONE HYPOPHYSAIRE
Imports
MARCHE
MARCHE MONDIAL
MERCADOS
MERCADOS MUNDIALES
MODELE
MODELOS
POLITICA DE PRODUCCION
POLITIQUE DE LA PRODUCTION
PORCIN
porcine somatotropin
Pork
pork demand
pork supply
Price elasticity
Producer surplus
Supply
VIANDE DE PORC
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Introduction of a new growth hormone, porcine somatotropin, will have a significant impact on the U.S. pork industry. Ex ante effects are estimated using a linear elasticity model, which accounts for interrelationships between domestic and international markets for hogs and pork, different adoption rates and lengths of run for supply, and consumer demand shifts from leaner pork. The paper shows how to use experimental data to quantify production function and supply shifts. Results indicate that, for a five-year adjustment period, producers' surplus will increase between $250 million and $720 million; consumers' surplus will increase between $900 million and $1.95 billion
ISSN:0002-9092
1467-8276
DOI:10.2307/1242668