An option-value model is developed to analyze the impacts of output price uncertainty, high sunk costs of adoption, and site-specific conditions on the optimal timing of adoption of two interrelated site-specific technologies, soil testing and variable rate technology (VRT). The model...

The welfare effects of GM (genetic modification)-led productivity growth for cassava producers are partly affected by the characteristics of individual cassava producing households. Those household characteristics include the elasticity of production and home consumption of cassava. Some studies...