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Rent creation and distribution from biotechnology innovations: The case of bt cotton and Herbicide-Tolerant soybeans in 1997

  • Jose B. Falck-Zepeda

    (Department of Agricultural Economics and Rural Sociology, 204 Comer Hall, Auburn University, Auburn, AL 36849)

  • Greg Traxler

    (Department of Agricultural Economics and Rural Sociology, 204 Comer Hall, Auburn University, Auburn, AL 36849)

  • Robert G. Nelson

    (Department of Agricultural Economics and Rural Sociology, 204 Comer Hall, Auburn University, Auburn, AL 36849)

We examine the distribution of welfare from the second-year planting of Bt cotton in the United States in 1997. We also provide preliminary estimates of the planting of herbicide-tolerant soybeans in 1997. For Bt cotton, total increase in world surplus was $190.1 million and US farmer share of total surplus was 42%. The gene developer, Monsanto, received 35% and the rest of the world 6% of the total world surplus. Delta and Pine Land received 9%, whereas US consumers received 7%. For herbicide-tolerant soybeans, total world surplus was $1,061.7 million. US farmers' surplus was 76%, Monsanto's was 7%, US consumers received 4%, and seed companies captured 3% of total surplus. [Econolit: Q120, D600, O330] © 2000 John Wiley & Sons, Inc.

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Article provided by John Wiley & Sons, Ltd. in its journal Agribusiness.

Volume (Year): 16 (2000)
Issue (Month): 1 ()
Pages: 21-32

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Handle: RePEc:wly:agribz:v:16:y:2000:i:1:p:21-32
Contact details of provider: Web page: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1520-6297

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  1. Giancarlo Moschini & Harvey Lapan, 1997. "Intellectual Property Rights and the Welfare Effects of Agricultural R&D," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1229-1242.
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