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Market concentration and productivity in the United States corn sector: 2002-2009

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  • Nolan, Elizabeth
  • Santos, Paulo
  • Shi, Guanming
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    Abstract

    There is a large literature which investigates the relationship between market concentration and innovation. It is difficult to find a suitable measure for innovative output. We use a rich dataset based on university trials of corn hybrids to estimate, using fixed effects, a production function. We predict the fixed effects, by year and Crop Reporting District (CRD), for each hybrid to identify the amount of yield that is directly related to the genetics of the hybrids. We combine this dataset with one which provides information for market concentration, and find, using two stage least squares, that there is a positive relationship between market concentration and innovation.

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    Bibliographic Info

    Paper provided by Agricultural and Applied Economics Association in its series 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington with number 125941.

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    Date of creation: 2012
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    Handle: RePEc:ags:aaea12:125941

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    Related research

    Keywords: corn hybrids; innovation; instrumental variables; market concentration.; Industrial Organization; Production Economics; Productivity Analysis;

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    1. Thirtle, Colin G., 1985. "Technological Change And The Productivity Slowdown In Field Crops: United States, 1939-78," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 17(02), December.
    2. Kohn, Meir & Scott, John T, 1982. "Scale Economies in Research and Development: The Schumpeterian Hypothesis," Journal of Industrial Economics, Wiley Blackwell, vol. 30(3), pages 239-49, March.
    3. Rausser, Gordon C. & Scotchmer, Suzanne & Simon, Leo K., 1999. "Intellectual Property and Market Structure in Agriculture," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt70j206tr, Department of Agricultural & Resource Economics, UC Berkeley.
    4. Nickell, S.J., 1993. "Competition and Crporate Performance," Economics Series Working Papers 99155, University of Oxford, Department of Economics.
    5. Deepthi Elizabeth Kolady & William Lesser, 2009. "But are they Meritorious? Genetic Productivity Gains under Plant Intellectual Property Rights," Journal of Agricultural Economics, Wiley Blackwell, vol. 60(1), pages 62-79.
    6. Nolan, Elizabeth & Santos, Paulo, 2010. "Measuring the Contribution of Genetic Characteristics as an Indicator of Innovation: The Case of Corn in the USA, 1990-2009," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 61333, Agricultural and Applied Economics Association.
    7. Guanming Shi, 2009. "Bundling and Licensing of Genes in Agricultural Biotechnology," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(1), pages 264-274.
    8. Guanming Shi & Jean-paul Chavas & Kyle Stiegert, 2010. "An Analysis of the Pricing of Traits in the U.S. Corn Seed Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(5), pages 1324-1338.
    9. Philip H. Howard, 2009. "Visualizing Consolidation in the Global Seed Industry: 1996–2008," Sustainability, MDPI, Open Access Journal, vol. 1(4), pages 1266-1287, December.
    10. Gilbert, Richard J & Newbery, David M G, 1982. "Preemptive Patenting and the Persistence of Monopoly," American Economic Review, American Economic Association, vol. 72(3), pages 514-26, June.
    11. Nolan, Elizabeth & Santos, Paulo, 2011. "Risk premiums and GM traits," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103692, Agricultural and Applied Economics Association.
    12. Nancy T. Gallini, 2002. "The Economics of Patents: Lessons from Recent U.S. Patent Reform," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 131-154, Spring.
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