This study examines the factors that influence the simultaneous adoption of
no-till farming technology and Roundup Ready soybean (RR) varieties and the
welfare benefits of the adoption of the technologies. The single adoption of
the individual technologies is analyzed using a feasible generalized least
squares (FGLS) estimation. A two-limit Tobit procedure is further used to
analyze the extent of the adoption of the technologies. To answer the
question of the simultaneity between the two technologies, we construct a
Wu-Hausman test statistic using the results of two separate single equation
probit models and a simultaneous two-equation econometric model.
Furthermore, the book provides readers with a simple way of analyzing the
welfare benefits of adopting a new technology in the case of a parallel and a
pivotal shift of the supply curve. The theoretical model developed assumes
two main regions; a large producer country adopting the new technology
(U.S.) and the rest of the world (ROW), as the non-adopting region. Economic
surpluses gained by producers and consumers in the two regions are
discussed.
This book is aimed at providing professionals, policy makers, researchers and
intermediate to graduate level students in economics with simple but rigorous
strategies that can be used in modeling and analyzing the concomitant
adoption of technologies.