Measuring research benefits in an imperfect market
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In this paper, an imperfect market model is developed for evaluating agricultural research benefits. The main
finding is that the increases in societal gain, and the producer's share of this gain, are larger with a monopoly than
with a competitive market. The paper argues that if the market for an agricultural input or for a commodity is not
competitive, then use of a competitive model for assessing research benefits could lead to understatements of both
producer and total benefits.