Oehmke, James; Wolf, Christopher; Raper, Kellie - In: Journal of Agricultural & Food Industrial Organization 3 (2007) 2, pp. 1107-1107
Over the past twenty years, the R&D-based agricultural biotechnology industry has exhibited cyclical behavior in consolidation. This paper provides a positive, theoretical model of endogenous R&D, in which the number of firms engaged in R&D exhibits cyclical behavior. Additional, empirically...