RESEARCH PAYOFF FROM QUALITY IMPROVEMENT: THE CASE OF BACKFAT DEPTH IN PIGS

J. P. Voon and G. W. Edwards

Journal of Agricultural Economics, 1991, vol. 42, issue 1, 66-76

Abstract: Closed‐market models embodying alternative specifications of supply, demand and substitutability conditions are developed to measure the economic benefits from a research‐caused improvement in quality. The models are applied to the estimation of the economic benefits from reducing backfat depth in Australian pork. A major finding is that the Australian pig industry has the potential to derive a gross research benefit of about $7 million per annum from a 10% reduction in backfat thickness in pigs. Under each of the chosen specifications, the larger share of this gain accrues to pig producers. There could be additional social gains as a result of health benefits not incorporated in consumers' valuations.

Date: 1991
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https://doi.org/10.1111/j.1477-9552.1991.tb00333.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:jageco:v:42:y:1991:i:1:p:66-76

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