Genetically Modified Crops: Their Market and Welfare Impacts
Abstract
A framework is developed for examining price and welfare effects of the introduction of genetically modified (GM) products. In the short run, non-GM grain generally becomes another identity-preserved product. However, more profound market effects are observed under some reasonable parameterizations. When calibrated to reflect the U.S. corn market, introducing GM technology increases aggregate welfare over a wide range of scenarios, unless the corresponding production cost savings are small and consumers are seriously concerned about GM products. The possibility that GM technology may reduce aggregate welfare is interesting because the model assumes rational agents and does not include regulatory constraints. Copyright 2005, Oxford University Press.Download Info
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Bibliographic Info
Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.
Volume (Year): 87 (2005)
Issue (Month): 4 ()
Pages: 931-950
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Related research
Keywords:Other versions of this item:
- Lence, Sergio H. & Hayes, Dermot J., 2005. "Genetically Modified Crops: Their Market and Welfare Impacts," Staff General Research Papers 12435, Iowa State University, Department of Economics.
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- GianCarlo Moschini, 2008.
"Biotechnology and the Development of Food Markets: Retrospect and Prospects,"
Center for Agricultural and Rural Development (CARD) Publications
08-wp477, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- GianCarlo Moschini, 2008. "Biotechnology and the development of food markets: retrospect and prospects," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 35(3), pages 331-355, September.
- Moschini, GianCarlo, 2008. "Biotechnology and the Development of Food Markets: Retrospect and Prospects," Staff General Research Papers 12982, Iowa State University, Department of Economics.
- Liu, Pengcheng & Huang, Chung-Huang & Feng, Zhongchao & Zhou, Deyi, 2009. "Consumer’s choice on GM labeling: evidences from China," 2009 Conference, August 16-22, 2009, Beijing, China 51807, International Association of Agricultural Economists.
- Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2011.
"Revenue Protection for Organic Producers: Too Much or Too Little,"
Staff General Research Papers
33912, Iowa State University, Department of Economics.
- Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2012. "Revenue Protection for Organic Producers: Too Much or Too Little?," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), December.
- Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2012. "Revenue Protection for Organic Producers: Too Much or Too Little," Staff General Research Papers 35964, Iowa State University, Department of Economics.
- Singerman, Ariel & Hart, Chad E. & Lence, Sergio H., 2012. "Revenue Protection for Organic Producers: Too Much or Too Little," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124370, Agricultural and Applied Economics Association.
- Lusk, Jayson L. & Rozan, Anne, 2008. "Public Policy and Endogenous Beliefs: The Case of Genetically Modified Food," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 33(2), August.
- Taing, William & Ahmadi-Esfahani, Fredoun Z., 2009. "GM technology and the Australian canola," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 48191, Australian Agricultural and Resource Economics Society.
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