Rent creation and distribution from biotechnology innovations: The case of bt cotton and Herbicide-Tolerant soybeans in 1997
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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Volume (Year): 16 (2000)
Issue (Month): 1 ()
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- 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.
- Moschini, GianCarlo & Lapan, Harvey E., 1999. "Intellectual Property Rights and the Welfare Effects of Agricultural R&D," Staff General Research Papers 1735, Iowa State University, Department of Economics.
- Moschini, GianCarlo & Lapan, Harvey E., 1997. "Intellectual Property Rights and the Welfare Effects of Agricultural R & D," Staff General Research Papers 5048, Iowa State University, Department of Economics.
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