The Boserup-Ruthenberg framework has long been used to explain and understand the determinants of agricultural growth, the nature of the intensification of farming systems, investment, and technology adoption. The literature has produced an extensive body of evidence that summarizes or tests the...

The paper aims at modeling adoption and diffusion decisions of farmers towards genetically modified crops under a real option framework. Modern GM crops help farmers to resolve two main sources of uncertainty: output uncertainty and input uncertainty. Those crops represent a revolutionary form...