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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.