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Grower Response to Contracts and Risk in Genetically Modified (GM) Crops

Author

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  • Wilson, William W.
  • Dahl, Bruce L.
  • Maxwell, Brett J.

Abstract

Contract strategies can resolve some of the challenges that exist for property rights conformance of genetically modified (GM) crops. The purpose of this research is to determine how contract terms impact adoption decisions related to GM grain production and marketing. A simulation model was developed for prospective GM introduction in hard red spring (HRS) wheat, and distributions of net returns for growers were analyzed using stochastic dominance and stochastic efficiency. Results illustrate that contracts can be designed to induce desired behavior. Technology fees, probabilities of detection, and the level of non-GM premiums were the most notable factors influencing adoption decisions. In addition, point-of-delivery pricing and premiums for non-GM production impact adoption decisions.

Suggested Citation

  • Wilson, William W. & Dahl, Bruce L. & Maxwell, Brett J., 2007. "Grower Response to Contracts and Risk in Genetically Modified (GM) Crops," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 32(1), pages 1-19, April.
    • Handle: RePEc:ags:jlaare:8593
    DOI: 10.22004/ag.econ.8593
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    Cited by:

    1. Dahl, Bruce & Wilson, William W., 2018. "Risk premiums due to Fusarium Head Blight (FHB) in wheat and barley," Agricultural Systems, Elsevier, vol. 162(C), pages 145-153.
    2. Wilson, William W. & McKee, Greg & Nganje, William & Dahl, Bruce & Bangsund, Dean, 2017. "Economic Impact of USWBSI’s Scab Initiative to Reduce FHB," Agribusiness & Applied Economics Report 264672, North Dakota State University, Department of Agribusiness and Applied Economics.

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    Keywords

    Crop Production/Industries;

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