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Economic Changes From The Use Of Biotechnology In Production Agriculture, Loren W. Tauer
Economic Changes From The Use Of Biotechnology In Production Agriculture, Loren W. Tauer
Journal of the Iowa Academy of Science: JIAS
The potential economic impact of biotechnology in production agriculture is discussed. There are challenges and difficulties in completing economic research when little production information is available on biotechnologies. I argue that little impact differences exist between cost-reducing versus output-increasing technological change. Rapid technological change results in low average returns in agriculture but continuous early innovators earn higher returns. Various plant and animal technologies are presented and discussed.