Market and Welfare Effects of Second-Generation, Consumer-Oriented GM Products
AbstractWe examine the economic effects of the introduction of consumer-oriented genetically modified (GM) products into the food system by developing a model of heterogeneous consumers and producers that allows for vertical and horizontal differentiation between the products available to consumers. The model facilitates the estimation of consumer and producer surpluses in the product/utility and product/net returns spaces. Results show that the introduction of consumer-oriented GM products can change the relationship between GM and conventional and organic products from one of vertical to one of horizontal product differentiation and can enhance both economic welfare and the market acceptance and growth of agricultural biotechnology. Copyright 2008, Oxford University Press.
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Bibliographic InfoArticle provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.
Volume (Year): 90 (2008)
Issue (Month): 1 ()
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- Khachaturyan, Marianna & Yiannaka, Amalia, 2012. "The Market Acceptance And Welfare Impacts Of Genetic Use Restriction Technologies (Gurts)," 2012 Conference, August 18-24, 2012, Foz do Iguacu, Brazil 126880, International Association of Agricultural Economists.
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- Bonroy, O. & Constantatos, C., 2013. "On the economics of labels : a review of the theoretical literature," Working Papers 2013-01, Grenoble Applied Economics Laboratory (GAEL).
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