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Economic Impacts of the U.S. Soybean Aphid Infestation: A Multi-Regional Competitive Dynamic Analysis AgEcon
Kim, C.S.; Schaible, Glenn D.; Garrett, Lynn; Lubowski, Ruben N.; Lee, Donna J..
We estimated the economic benefits resulting from controlling soybean aphid infestation by using a multi-regional competitive dynamic equilibrium model. Results indicate that the reduction of soybean production resulting from a soybean aphid infestation is largely absorbed by reducing soybean exports, due to the higher price elasticity of export demand compared to domestic demand. Producer benefits resulting from controlling soybean aphids would increase by between $949 million and $1.623 billion in ten years under various scenarios. Results also suggest that it is economically more efficient to control soybean aphids when the rate of intrinsic growth is relatively lower, the supply price elasticity of soybean acreage is relatively more elastic, and...
Tipo: Journal Article Palavras-chave: Soybean aphid; Invasive species; Producer surplus; Consumer surplus; Rag-1; Crop Production/Industries.
Ano: 2008 URL: http://purl.umn.edu/45660
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