Towards Framework for Economic Value of Analytical Systems in Agriculture: Proposal of Research

• Published in: AGRIS on-line Papers in Economics and Informatics 2016-03, Vol.8 (1), p.103-108
• Main Authors: Tyrychtr, Jan, Junek, Pavel, Vostrovský, Václav, Vasilenko, Alexandr, Nouza, J
• Format: Article
• Language: English
• Subjects: Agricultural and Food Policy; agriculture; Analytical systems; decision support; economic value; information systems; Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods
• ISSN: 1804-1930; 1804-1930
• DOI: 10.22004/ag.econ.233971

An important criterion for agricultural businesses and farmers who make investment decisions is the profitability of their investments. If the profitability criterion is applied to investments in analytical systems, problems arise with determining the exact value of such criteria. Special approaches for assessing the benefits of such systems must be used to cope with this problem. This paper focuses on the economic evaluation of analytical systems, whose economic impact in agriculture is unclear. Two main types of research approaches are identified: normative approach and positive approach to the evaluation of analytical systems. These approaches can be used to identify the benefits of analytical systems for agricultural activities, and to express their economic value for the management of agricultural enterprises. A new research process and research phases for the design of a conceptual framework for analytical systems’ economic evaluation in agriculture is proposed based on this theoretical and research background.