The paper models the distributional effects of partial adoption of genetically modified soybeans under the assumptions of imperfectly competitive markets and identity preservation requirements. Our results show the welfare costs of market imperfections and improve understanding the diffusion of...

Uncertainty of returns from marketing is an extremely important factor affecting the diffusion of a wide range of genetically modified (GM) crops worldwide. Biotech companies face complicated choices in making decisions about whether to enter agricultural markets in different countries with...

Uncertainty of returns from marketing is an extremely important factor affecting the diffusion of a wide range of genetically modified (GM) crops worldwide. Biotech companies face complicated choices in making decisions about whether to enter agricultural markets in different countries with...

This paper examines whether it makes sense to consider Sutton's "bounds" approach as a candidate theory for explaining the recent evolution of market structure in the biotechnology sector, and to speculate whether market structure will change if the industry begins to introduce second-generation...

A country specializing in a high technology industry may find that excess returns stemming from innovation are reallocated overseas as foreign-based multinationals access ongoing domestic R&D through alliances with or acquisition of established domestic start-ups. Computer simulation illustrates...

Sources of heterogeneity within the process of R&D investment, such as international differences in the maximum per-period rate of investment and level of regulatory uncertainty, offer a plausible explanation for US comparative advantage in biotechnology. Using dynamic stochastic simulation, the...

Over the past three decades, the agricultural biotechnology sector has been characterized by rapid innovation, market consolidation, and a more exhaustive definition of property rights. The industry attributes consistently identified by the literature and important to this analysis include: (i)...

In this paper, we analyze the impact of the Microbial Inoculants (MI) Technology on apple yields and pesticide application using 2007 farm data. The results show that pesticide usage is not reduced by MI applications. However, there is a significant positive effect on the yields. Apple...

This paper examines the regulation of trade in genetically modified organisms (GMOs) by the World Trade Organization (WTO). Despite rapid adoption of GMOs by a few exporters, many importers have developed relatively restrictive procedures for pre-market approval of GMOs, and are introducing...

Real options theory is employed to measure the value of investing in organic wheat production using precision agriculture technology. Results reveal that an option to wait until market uncertainty is resolved is valuable. Information obtained via precision agriculture technology is also valuable...