Evaluating the possible benefits of the introduction of genetically modified (GM) crops must address the issue of consumer resistance as well as the complex regulation that has ensued. In the European Union (EU) this regulation envisions the "co-existence" of GM food with conventional and...

In patent race models, firms' noncooperatively chosen research projects typically display too much correlation. But when there are multiple intellectual property rights protection instruments, we find that the paths chosen in an R&D race can move towards the social optimum.

Evaluating the possible benefits of the introduction of genetically modified (GM) crops must address the issue of consumer resistance as well as the complex regulation that has ensued. In the European Union (EU), this regulation envisions the co-existence of GM food with conventional and...

Many decisions in agriculture are made over combinations of inputs and/or practices that may be complements. The presence of complementarity among producer decisions can have deep implications for market outcomes and for the effectiveness of policies intended to influence them. Identifying...

This paper develops a spatial equilibrium model suitable to analyze the economic impacts of measures (such as isolation distances and buffer zones) meant to ensure coexistence between GM and non-GM crops. We show that policies that put the cost of such measures exclusively on GM producers lead...

When the threat of entry by followers includes cooperative firms, the maximum fixed cost that a profit maximizing leader can endure is endogenous. The aggressive strategy required for entry deterrence curtails the leader's expected profit and can discourage its initial entry. In such...

This paper analyzes U.S. countervailing import duties aimed at offsetting the effects of a Canadian hog production subsidy. Approximate countervailing duty formulae for two alternative objectives are derived, the permissible range of these duties is illustrated, and empirical evidence is...