Valuing New Varieties: Trade-Offs between Growers and End-Users in Wheat

Bruce L. Dahl, William Wilson and D. Demcey Johnson

Review of Agricultural Economics, 2004, vol. 26, issue 1, 82-96

Abstract: Variety release decisions usually involve trade-offs between growers and end-users as well as substantial uncertainties about agronomic, quality, and economic variables. In this paper, methodologies were developed to value grower and end-user characteristics for individual wheat varieties and to evaluate trade-offs. The models capture effects of variability in agronomic, quality, and economic variables and were applied to experimental and hypothetical varieties. Results indicate two experimental varieties provide improvements in grower and end-use value over most of the incumbents. Though applied to a specific grain and region, the approach is applicable to other grains and oilseeds that have multiple agronomic and quality attributes. Copyright 2004, Oxford University Press.

Date: 2004
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