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Incomplete Adoption of a Superior Innovation

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Author Info
Lapan, Harvey E
Moschini, Giancarlo

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Abstract

We consider a model in which an innovating monopolist of a technologically superior intermediate input must sell this product to final output producers. Prior research shows that, with complete information, the monopolist's optimal strategy will lead to complete adoption of this technologically superior innovation. In this article we show that, when the price of some competitively supplied input used in the final product market is endogenous and is altered by adoption of the innovation, then the optimal pricing strategy of the monopolist may lead to incomplete innovation. Thus, the standard result of complete adoption of the superior technology is partly attributable to the partial equilibrium nature of prior models. Copyright 2000 by The London School of Economics and Political Science

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Publisher Info
Article provided by London School of Economics and Political Science in its journal Economica.

Volume (Year): 67 (2000)
Issue (Month): 268 (November)
Pages: 525-42
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Handle: RePEc:bla:econom:v:67:y:2000:i:268:p:525-42

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  1. Demont, Matty & Tollens, Eric, 2001. "Uncertainties Of Estimating The Welfare Effects Of Agricultural Biotechnology In The European Union," Working Papers 31828, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  2. Merel, Pierre R. & Carter, Colin A., 2005. "The Coexistence of GM and non-GM Crops and the Role of Consumer Preferences," 2005 Annual meeting, July 24-27, Providence, RI 19512, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  3. Saak, Alexander E. & Hennessy, David A., 2001. "Planting Decisions And Uncertain Consumer Acceptance Of Genetically Modified Crop Varieties," 2001 Annual meeting, August 5-8, Chicago, IL 20581, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
    Other versions:
  4. Moschini, G. & Lapan, H.E. & Sobolevsky, A., 2000. "Trading Technology As Well As Final Products: Roundup Ready Soybeans And Welfare Effects In The Soybean Complex," Proceedings:Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 26002, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance. [Downloadable!]
  5. Alexander E. Saak, 2003. "Location, Planting Decisions, and the Marketing of Quality-Differentiated Agricultural Commodities," Center for Agricultural and Rural Development (CARD) Publications 03-wp331, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  6. Harvey E. Lapan & GianCarlo Moschini, 2002. "Innovation and Trade with Endogenous Market Failure: The Case of Genetically Modified Products," Center for Agricultural and Rural Development (CARD) Publications 02-wp302, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
    Other versions:
  7. Wilson, William W. & Huso, Scott R., 2008. "Trait Stacking, Licensing, and Seed Firm Acquisitions on Genetically Modified Grains: A Strategic Analysis," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(3), December. [Downloadable!]
  8. Dillen, K & Demont, M. & Tollens, E., 2008. "Modelling heterogeneity to estimate the ex ante value of biotechnology innovations," 2008 International Congress, August 26-29, 2008, Ghent, Belgium 43945, European Association of Agricultural Economists. [Downloadable!]
  9. Demont, Matty & Tollens, Eric, 2001. "Reshaping The Conventional Welfare Economics Framework For Estimating The Economic Impact Of Agricultural Biotechnology In The European Union," Working Papers 31835, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  10. Demont, Matty & Tollens, Eric, 2001. "Welfare Effects Of Transgenic Sugarbeets In The European Union: A Theoretical Ex-Ante Framework," Working Papers 31852, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  11. Demont, Matty & Tollens, Eric, 2001. "Economic Impact Of Agricultural Biotechnology In The Eu: The Euwab Project," Working Papers 31857, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics. [Downloadable!]
  12. Demont, Matty & Tollens, Eric, 2001. "Ex-Ante Evaluation Of The Economic Impact Of Agricultural Biotechnology In The European Union: The Case Of Transgenic Sugarbeets," 2001 Annual meeting, August 5-8, Chicago, IL 20631, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  13. Oehmke, James F & Wolf, Christopher A., 2004. "Is Monsanto Leaving Money on the Table? Monopoly Pricing and Bt Cotton Value with Heterogeneous Adopters," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(03), December. [Downloadable!]
  14. Alexander E. Saak, 2003. "Location, Planting Decisions, and the Marketing of Quality-Differentiated Agricultural Commodities," Food and Agricultural Policy Research Institute (FAPRI) Publications 03-wp331, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University. [Downloadable!]
  15. Wilson, William W. & Huso, Scott R., 2006. "Producer Surplus Distributions in GM Crops: The Ignored Impacts of Roundup Ready Wheat," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 31(02), August. [Downloadable!]
  16. Saak, Alexander, 2003. "Location, Planting Decisions, and the Marketing of Quality-Differentiated Agricultural Commodities," Staff General Research Papers 10359, Iowa State University, Department of Economics. [Downloadable!]
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