International trade in genetically modified products
AbstractThis paper investigates competition between two markets that sell close substitutes: a traditional product and a genetically modified (GM) product. Tightening an import quota on the GM product raises the prices of both goods and hurts consumers. Two scenarios are considered under free trade: Cournot-Nash equilibrium and Stackelberg equilibrium. A Stackelberg type monopolist produces more, and the competitive traditional firms produce less, than in Cournot-Nash equilibrium. In the long run, an import ban on the GM product does not help competitive producers of the genetically modified organism (GMO)-free products but benefits only the landowners in Europe.
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Bibliographic InfoArticle provided by Elsevier in its journal International Review of Economics & Finance.
Volume (Year): 19 (2010)
Issue (Month): 3 (June)
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Web page: http://www.elsevier.com/locate/inca/620165
Genetically modified products Import ban Landowners;
Other versions of this item:
- Choi, E. Kwan, 2010. "International Trade in Genetically Modified Products," Staff General Research Papers 31265, Iowa State University, Department of Economics.
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
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