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Contract Structure, Learning-By-Doing And The Viability Of New Agricultural Industries

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  • Choiniere, Conrad J.

Abstract

The paper examines contracts in new agricultural industries that exhibit learning-by-doing. A dynamic model analyzes a contract's effect on production decisions, as well as investments in processing capacity and learning. The results of the model are applied qualitatively to the biomass electricity industry.

Suggested Citation

  • Choiniere, Conrad J., 2002. "Contract Structure, Learning-By-Doing And The Viability Of New Agricultural Industries," 2002 Annual meeting, July 28-31, Long Beach, CA 19665, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea02:19665
    DOI: 10.22004/ag.econ.19665
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    File URL: https://ageconsearch.umn.edu/record/19665/files/sp02ch07.pdf
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    References listed on IDEAS

    as
    1. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, April.
    2. Emmanuel Petrakis & Eric Rasmusen & Santanu Roy, 1997. "The Learning Curve in a Competitive Industry," RAND Journal of Economics, The RAND Corporation, vol. 28(2), pages 248-268, Summer.
    3. Pankaj Ghemawat & A. Michael Spence, 1985. "Learning Curve Spillovers and Market Performance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(Supplemen), pages 839-852.
    4. Joskow, Paul L, 1985. "Vertical Integration and Long-term Contracts: The Case of Coal-burning Electric Generating Plants," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 1(1), pages 33-80, Spring.
    5. McDonald, Alan & Schrattenholzer, Leo, 2001. "Learning rates for energy technologies," Energy Policy, Elsevier, vol. 29(4), pages 255-261, March.
    6. Sherwin Rosen, 1972. "Learning by Experience as Joint Production," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 86(3), pages 366-382.
    7. Paul L. Joskow, 1990. "The Performance of Long-Term Contracts: Further Evidence from Coal Markets," RAND Journal of Economics, The RAND Corporation, vol. 21(2), pages 251-274, Summer.
    8. Williamson, Oliver E, 1971. "The Vertical Integration of Production: Market Failure Considerations," American Economic Review, American Economic Association, vol. 61(2), pages 112-123, May.
    9. Brueckner, Jan K. & Raymon, Neil, 1983. "Optimal production with learning by doing," Journal of Economic Dynamics and Control, Elsevier, vol. 6(1), pages 127-135, September.
    10. Sappington, David, 1983. "Limited liability contracts between principal and agent," Journal of Economic Theory, Elsevier, vol. 29(1), pages 1-21, February.
    11. A. M. Spence, 1981. "The Learning Curve and Competition," Bell Journal of Economics, The RAND Corporation, vol. 12(1), pages 49-70, Spring.
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    Cited by:

    1. Altman, Ira J. & Klein, Peter G. & Johnson, Thomas G., 2006. "Scale as a Transaction Cost Variable in the U.S. Biopower Industry," 2006 Annual meeting, July 23-26, Long Beach, CA 21141, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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