Biodiversity versus transgenic sugar beet: the one euro question
The decision on whether to release transgenic crops in the EU is subject to irreversibility, uncertainty and flexibility. We analyse the case of herbicide-tolerant sugar beet and assess whether the EU's 1998 de facto moratorium on transgenic crops for sugar beet was correct from a cost--benefit perspective, using a real option approach. We show that the decision was correct, providing households on average value the possible annual irreversible costs of herbicide-tolerant sugar beet at €1 or more. On the other hand, the total net private reversible benefits forgone if the de facto moratorium is not lifted are around €169 million per year. Copyright 2004, Oxford University Press.
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Volume (Year): 31 (2004)
Issue (Month): 1 (March)
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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.:
- Bureau, Jean-Christophe, et al, 1997. "Quota Mobility in the European Sugar Regime," European Review of Agricultural Economics, Foundation for the European Review of Agricultural Economics, vol. 24(1), pages 1-30.
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- Pretty, J. N. & Brett, C. & Gee, D. & Hine, R. E. & Mason, C. F. & Morison, J. I. L. & Raven, H. & Rayment, M. D. & van der Bijl, G., 2000. "An assessment of the total external costs of UK agriculture," Agricultural Systems, Elsevier, vol. 65(2), pages 113-136, August.
- Fernandez-Cornejo, Jorge & McBride, William D., 2002. "Adoption Of Bioengineered Crops," Agricultural Economics Reports 33957, United States Department of Agriculture, Economic Research Service. Full references (including those not matched with items on IDEAS)
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