Economic Analysis of Innovative Agricultural Technologies

Székely, Csaba – Lencsés, Enikő – Kovács, Attila

Keywords: precision farming, milking robot, economic analysis, payback JEL: M11, M21, O13, O32

In the coming years and decades, the innovation processes that appeared as a result of sectoral research and development may play an increasingly important role in agriculture. This process is facilitated by the new technological procedures already introduced in other areas, and by the ever-increasing digitization. The new technologies are already available for practice, despite this, only a slow spread of them can be experienced in Hungary. The significant need for investment and risks regarding the introduction of new technologies make agricultural producers uncertain. They can primarily enjoy the benefits of the developments, but a possible failure can threaten their existence. In relation to the development, they must therefore carry out investigations that substantiate their decisions, for which they must have adequate information and a methodological background suitable for this purpose. The study primarily aims at helping by exploring, quantifying and analyzing the economic-ecological relationships, through two practical examples.