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Registros recuperados: 39 | |
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Just, David R.; Wang, Shenghui; Pinstrup-Andersen, Per. |
As with other technologies, adoption of Bt seed requires technology specific knowledge. Growing secondary pest populations have slowly eroded the benefits of Bt technology in China. We illustrate the effects of introducing Bt technology among farmers with an imperfect knowledge of secondary pest problems using a simple dynamic model. The stochastic dominance tests based on primary household data from 1999-2001 and 2004 in China provide strong evidence that secondary pests, if unanticipated, could completely erode all benefits from Bt cotton cultivation. Our empirical tests also suggest that planting refuge concurrent with Bt adoption provides for the sustainable development of Bt technology. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
Ano: 2006 |
URL: http://purl.umn.edu/21230 |
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Khantachavana, Sivalai V.; Just, David R.; Pushkarskaya, Helen N.. |
Entrepreneurship means making discrete changes in livelihood activities that involve substantial risks to income. While the rewards may be substantial, transactions costs may make decisions irreversible. This paper draws a comparison between entrepreneurship and technology adoption. Adopting a new production technology also involves substantial risks. The economics of technology adoption is a well developed literature with many accepted and testable models. Most prominent are the theories of learning by using and learning by doing. We review the technology adoption literature, drawing out lessons for entrepreneurship research. We then apply an entrepreneurship as technology adoption model to a unique dataset collected during the tobacco buyout. The... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Entrepreneurship; Technology adoption; Tobacco buyout; Agribusiness; Risk and Uncertainty. |
Ano: 2010 |
URL: http://purl.umn.edu/61296 |
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de Gorter, Harry; Just, David R.; Tan, Qinwen. |
We determine how the U.S. ethanol tax credit and import tariff affect the corn-ethanol-gasoline markets and how farm subsidies interact with these policies. We show how the ethanol tax credit and import tariff each uniquely affect the ethanol and gasoline prices. The ethanol import tariff alone increases the terms of trade in ethanol imports and corn exports, but decreases the terms of trade in gasoline imports and the tax costs of farm price supports. With price-contingent farm subsidies in place, the optimal tariff and tax credit will depend on the price level. When farm subsidy expenditures are high, import subsidies for ethanol may increase social welfare due to the substantial size of the fuel market relative to the corn market. |
Tipo: Journal Article |
Palavras-chave: Biofuels; Ethanol; Tariffs; Tax credit; Welfare; Agricultural and Food Policy. |
Ano: 2009 |
URL: http://purl.umn.edu/49865 |
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Just, David R.; Cao, Ying; Zilberman, David. |
Previous studies have found underestimation of risk, or overconfidence, to be pervasive. In this paper, we model overconfidence as a reduction in perceived variance. We generalize the analysis of Sandmo and examine the effects of competition on firms displaying overconfidence. Cases for both competitive equilibrium and imperfect competition are investigated. We show that overconfidence may strictly dominate rationality in a competitive market by leading risk averse producers to invest greater amounts and produce more. This leads to a higher average profit, and greater variance of profits, leaving the producer a greater probability of surviving competitive pressures. Despite the greater variance of profits, if enough producers underestimate their risk, they... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Overconfidence; Misperception; Production; Competition; Production Economics; Risk and Uncertainty. |
Ano: 2009 |
URL: http://purl.umn.edu/49161 |
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Just, David R.; Wu, Steven Y.. |
Loss aversion has become the dominant alternative to expected utility theory for modeling choice under uncertainty. The setting of the base payment in contracts provides an interesting application of referenced based decision theory. The impact of loss aversion on contract structure depends critically on whether reservation opportunities (outside options) are evaluated with respect to the reference point implied in the contract. We show that when reservation opportunities are independent of the reference point, reward contracts are optimal. However, when reservation opportunities are evaluated against the reference point, then penalty contracts are more efficient. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty; L14; D81; D21; D82. |
Ano: 2005 |
URL: http://purl.umn.edu/28727 |
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Registros recuperados: 39 | |
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