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Insuring the Stewardship of Bt Corn: A Carrot versus a Stick

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Author Info
Mitchell, Paul D.
Hurley, Terrance M.
Babcock, Bruce A.
Hellmich, Richard L.

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Abstract

We compare subsidies and fines to voluntary and mandatory refuge insurance (insurance for pest damage on Bt corn refuge) as mechanisms for securing grower compliance with EPA refuge mandates. A conceptual model partially ranks mechanisms. We empirically quantify tradeoffs between mechanisms using grower welfare, payments to growers, and monitoring frequency. Grower welfare is lowest with mandatory insurance, since growers pay all costs, and highest with direct refuge subsidies, since public funds or companies subsidize all costs. Assuming typical premium loads and ignoring distribution considerations, we develop monitoring budgets for fines and subsidies, above which voluntary or mandatory insurance is better. Key words: biotechnology, European corn borer, refuge insurance, resistance management

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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 10073.

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Date of creation: 05 Dec 2002
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Publication status: Published in Journal of Agricultural and Resource Economics, 2002, Vol. 27, pp. 390-405.
Handle: RePEc:isu:genres:10073

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Marsh, Thomas L & Huffaker, Ray G & Long, Garrell E, 2000. " Optimal Control of Vector-Virus-Plant Interactions: The Case of Potato Leafroll Virus Net Necrosis," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 82(3), pages 556-69, August. [Downloadable!] (restricted)
  2. J. Pannell, David, 1991. "Pests and pesticides, risk and risk aversion," Agricultural Economics, Blackwell, vol. 5(4), pages 361-383, August. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Yang, Juan & Mitchell, Paul D. & Gray, Michael & Steffey, Kevin, 2007. "Unbalanced Nested Component Error Model and the Value of Soil Insecticide and Bt Corn for Controlling Western Corn Rootworm," Staff Paper Series 510, University of Wisconsin, Agricultural and Applied Economics. [Downloadable!]
  2. Mitchell, Paul D. & Zhu, En "John", 2003. "Moral Hazard And Bt Corn Refuge," 2003 Annual meeting, July 27-30, Montreal, Canada 22113, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  3. Mitchell, Paul D. & Zhu, En & Hurley, Terrance M., 2004. "Adverse Selection, Moral Hazard, And Grower Compliance With Bt Corn Refuge," 2004 Annual meeting, August 1-4, Denver, CO 20123, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  4. Ambec, Stefan & Desquilbet, Marion, 2006. "Pest Resistance Regulation and Pest Mobility," 2006 Annual meeting, July 23-26, Long Beach, CA 21134, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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