Using a principal-agent model, we find the optimal subsidy contract that induces grower compliance with Bt corn refuge requirements for managing insect resistance when asymmetric information exists concerning grower behavior. The optimal contract balances the cost of monitoring and the benefit of reducing the likelihood of insect resistance.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number
22113.
Length: Date of creation: 2003 Date of revision: Handle: RePEc:ags:aaea03:22113
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