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Making the market: How U.S. Policy influences near term agriculture and biofuel industry production and profitability under technology adoption

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  • Meyer, Seth D.
  • Binfield, Julian C.R.
  • Westhoff, Patrick C.

Abstract

The beneficiaries of technology adoption in agriculture and biofuels markets in the United States are heavily influenced by domestic biofuel policies and market context. Biofuel mandates, one of the key pillars of domestic biofuel policies, may significantly alter the elasticity of demand for biofuels as well as the derived demand for maize used to produce a significant share of ethanol in the United States. Using a stochastic agriculture and biofuels model, we assess how the introduction of technology may affect the crops and biofuel markets under binding and non-binding biofuel mandates and discuss the implications for analysis of EU biofuel policies.

Suggested Citation

  • Meyer, Seth D. & Binfield, Julian C.R. & Westhoff, Patrick C., 2010. "Making the market: How U.S. Policy influences near term agriculture and biofuel industry production and profitability under technology adoption," 114th Seminar, April 15-16, 2010, Berlin, Germany 61089, European Association of Agricultural Economists.
    • Handle: RePEc:ags:eaa114:61089
    DOI: 10.22004/ag.econ.61089
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    References listed on IDEAS

    as
    1. Wallace E. Tyner & Farzad Taheripour, 2008. "Policy Options for Integrated Energy and Agricultural Markets ," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 30(3), pages 387-396.
    2. Meyer, Seth D. & Westhoff, Patrick C. & Thompson, Wyatt, 2009. "Impacts of Selected US Ethanol Policy Options," FAPRI-MU Report Series 50486, Food and Agricultural Policy Research Institute (FAPRI).
    3. Sunding, David & Zilberman, David, 2001. "The agricultural innovation process: Research and technology adoption in a changing agricultural sector," Handbook of Agricultural Economics, in: B. L. Gardner & G. C. Rausser (ed.), Handbook of Agricultural Economics, edition 1, volume 1, chapter 4, pages 207-261, Elsevier.
    4. Banse, Martin & Tabeau, Andrzej A. & van Meijl, Hans & Woltjer, Geert B., 2010. "Modelling the Consequences of Increasing Bioenergy Demand on Land and Feed Use," 114th Seminar, April 15-16, 2010, Berlin, Germany 61082, European Association of Agricultural Economists.
    5. Feder, Gershon & Just, Richard E & Zilberman, David, 1985. "Adoption of Agricultural Innovations in Developing Countries: A Survey," Economic Development and Cultural Change, University of Chicago Press, vol. 33(2), pages 255-298, January.
    6. Westhoff, Patrick C. & Thompson, Wyatt & Meyer, Seth D., 2008. "Biofuels: Impact of Selected Farm Bill Provisions and other Biofuel Policy Options," FAPRI-MU Report Series 37772, Food and Agricultural Policy Research Institute (FAPRI).
    7. Binfield, Julian C.R. & Adams, Gary M. & Westhoff, Patrick C. & Young, Robert E., II, 2002. "A Stochastic Analysis of Proposals for the New US Farm Bill," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24913, European Association of Agricultural Economists.
    8. Westhoff, Patrick C. & Brown, Scott & Hart, Chad E., 2006. "When Point Estimates Miss the Point: Stochastic Modeling of WTO Restrictions," Staff General Research Papers Archive 31341, Iowa State University, Department of Economics.
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    Keywords

    Agricultural and Food Policy; Farm Management; Land Economics/Use;
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