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Irreversibility, Uncertainty and the Adoption of Transgenic Crops: the Case of BT-Maize in France

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Author Info
Scatasta, Sara
Wesseler, Justus
Demont, Matty

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Abstract

This study applies a real option approach to quantify, ex-ante, the maximum incremental social tolerable irreversible costs that would justify immediate adoption of Bt maize in France. Based on field trials, we find that incremental private reversible benefits in the agricultural sector are -18 million euro yearly for maize for animal feed and 1 million euro yearly for maize for human consumption. Incremental social irreversible benefits from reduced insecticide use are negligible. The maximum incremental social tolerable irreversible costs are -28 million euro yearly for maize for animal feed and 0.4 million Euro yearly for maize for human consumption.

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Publisher Info
Paper provided by European Association of Agricultural Economists in its series 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark with number 24758.

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Date of creation: 2005
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Handle: RePEc:ags:eaae05:24758

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Related research
Keywords: Bt maize; real option; France; field trials; irreversible social costs; Crop Production/Industries; D6; D8; Q1;

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References listed on IDEAS
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  1. Katranidis, Stelios & Velentzas, Kostas, 2000. "The Markets of Cotton Seed and Maize in Greece: Welfare Implications of the Common Agricultural Policy," Agricultural Economics Review, Greek Association of Agricultural Economists, vol. 1(2), August. [Downloadable!]
  2. Eric Tollens, 2004. "Biodiversity versus transgenic sugar beet: the one euro question," European Review of Agricultural Economics, Oxford University Press for the Foundation for the European Review of Agricultural Economics, vol. 31(1), pages 1-18, March.
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  3. Moschini, GianCarlo & Lapan, Harvey, 2002. "Intellectual Property Rights and the Welfare Effects of Agricultural R & D," Staff General Research Papers 5048, Iowa State University, Department of Economics.
  4. Moschini, Giancarlo & Lapan, Harvey & Sobolevsky, Andrei, 2000. "Roundup Ready Soybeans and Welfare Effects in the Soybean Complex," Staff General Research Papers 1799, Iowa State University, Department of Economics.
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This page was last updated on 2009-11-26.

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