| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
Economic Value of Information: Wheat Protein Measurement
|
| Autores: |
Miao, Ruiqing
Hennessy, David A.
|
| Data: |
2011-05-04
|
| Ano: |
2011
|
| Palavras-chave: |
Information
Economic value
Wheat
Protein
Market structure
Crop Production/Industries
Production Economics
Q12
Q16
D81
|
| Resumo: |
In this paper we study U.S. wheat farmers’ willingness to pay for near infrared (NIR) sensor that can segregates wheat grains according to their protein concentration. We first develop a microeconomic optimization model of wheat farmers’ segregating and commingling decisions. Then we use U.S. wheat prices and stocks to estimate a wheat protein stock demand system. This allows us to establish the effects of changes in the protein profile of wheat stocks on protein premiums. The paper’s simulation section combines the results from the microeconomic optimization model and from the econometric estimations to simulate wheat farmers’ WTP for the sorting technology. Preliminary findings from the simulation show that a typical hard red winter (hard red spring) wheat farmer’s WTP for the sorting technology is 5.6 (4.8) cents per bushel.
|
| Tipo: |
Conference Paper or Presentation
|
| Idioma: |
Inglês
|
| Identificador: |
http://purl.umn.edu/103974
|
| Relação: |
Agricultural and Applied Economics Association>2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania
|
| Formato: |
54
|
