Economics at your fingertips  

The Value of Non-Pecuniary Characteristics of Crop Biotechnologies: A New Look at the Evidence

Michele C. Marra and Nicholas E. Piggott
Additional contact information
Michele C. Marra: North Carolina State University
Nicholas E. Piggott: North Carolina State University

Chapter Chapter 8 in Regulating Agricultural Biotechnology: Economics and Policy, 2006, pp 145-177 from Springer

Abstract: Abstract In this chapter we examine the non-pecuniary aspects of the earliest crop biotechnologies. We analyze the stated values of the non-pecuniary aspects, taken from three farm-level surveys. We focus particularly on the phenomenon of part-whole bias, which is the empirical finding that the sum of the stated part-worths (the value of each non-pecuniary characteristic) is greater than the stated total value of all the non-pecuniary characteristics. We analyze the empirical evidence of part-whole bias in the surveys, while decomposing it to further understand the phenomenon and to rescale the stated values of the non-pecuniary characteristics in the surveys. We find for all three surveys that the degree to which part-worths should be rescaled is about 60 percent.

Keywords: crop biotechnology; non-pecuniary characteristics; stated preference; part-whole bias; rescaling (search for similar items in EconPapers)
Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This item can be ordered from

DOI: 10.1007/978-0-387-36953-2_8

Access Statistics for this chapter

More chapters in Natural Resource Management and Policy from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2023-06-06
Handle: RePEc:spr:nrmchp:978-0-387-36953-2_8