The objective of this case study is to examine the farm management decision of whether to adopt a new, genetically engineered potato variety. We describe the potato supply chain from seed production to final consumer products and explore how price and production risk interact to influence decision making at each link in that chain. We provide extensive supplemental material as well, including a teaching note with assignment and/or discussion questions, an introduction to and application of stakeholder theory, and a tool that assists students in calculating expected and simulated actual returns from their choice of potato variety.
Bibliographical noteFunding Information:
Kate Binzen Fuller is an assistant professor and extension specialist, and Gary W. Brester is a professor emeritus in the Department of Agricultural Economics and Economics at Montana State University. Michael A. Boland holds the E. Fred Koller Endowed Professorship in Agribusiness Management and Information Technology, and is Director of the Food Industry Center at the University of Minnesota. The authors would like to thank the Kimm family, especially Martin and Sue Kimm, as well as the Montana Seed Potato Improvement Association and Nina Zidack at the Montana Seed Potato Lab. Erika Refsland, Westin Kimm, Heather Smart, and Terry Smart provided research assistance. The usual disclaimers apply. A Montana Department of Agriculture Specialty Crop Block Grant and the USDA National Institute of Food and Agriculture, Hatch/Multistate project MONB0075 provided partial funding for this work. Correspondence can be sent to: firstname.lastname@example.org.
- Agricultural pests and diseases
- farm management decisions
- genetic engineering
- risk analysis
- seed production