The burgeoning literature on how the benefits from research may be negative for a given price support arbitrarily ignores the costs of price supports for a given level of research. Furthermore, the very existence of price supports is inconsistent with the normative criterion that governments...

This paper develops a political economy framework that determines the factors causing underinvestment in public research expenditures. Governments are unable to fully compensate for unequal income distribution effects of research because of either their inability to make credible commitments or...

Consumer resistance is a key barrier to the diffusion of genetically modified foods (GMFs). Several studies have shown that consumers in general have a negative attitude toward GMFs. Through analysis of a survey conducted in Israel, we find consumer attitudes toward GMFs to be context specific,...

In the US, The Tobacco Transition Payment Program, also called the "tobacco buy-out," helps tobacco quota holders and producers transition to the free market. In China, the transaction of Land Use Rights providing farmers’ ability to buy or sell Land Use Rights has been seriously considered by...