A deep dive into the impact assessment of agricultural, natural resource management, livestock, and fisheries technologies

As global agriculture undergoes rapid transformations to meet increasing food demands, the need to assess the economic impacts of advanced technological innovations in agriculture, natural resource management, livestock and fisheries sectors become paramount. Comparison of various methodologies employed for impact assessment revealed that Economic Surplus Method (ESM) is a well-established economic evaluation approach. We synthesized literature between 2000 and 2023 and identified common dimensions & related parameters, methodological considerations and challenges associated with ESM for various sectors as above. The review aims to enhance the understanding of the intricacies involved in economic impact assessments and provides valuable insights for policymakers, researchers and other stakeholders involved in shaping sustainable agricultural policies. Use of various parameters is a real challenge in ESM, therefore the study details out their roles and range of values. The case studies clearly revealed that impact assessment of agricultural technologies contribute to a more informed and strategic approach towards technology adoption in the agricultural sector.