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A Model Of Development Of Agricultural Biotechnological Innovations: Patent Policy Analysis

  • Nadolnyak, Denis A.
  • Sheldon, Ian M.
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    In this paper, peculiarities of the process of development of agricultural biotechnological innovations are considered, in particular the distinction between R&D races for gene discoveries and subsequent competition for developing their marketable applications in the form of genetically modified (GM) crops, the results of which determine the payoffs of discovering a gene. A formal two-stage model is specified and analyzed with regard to how different patent protection regimes and other government policies affect firm's’ R&D strategies and the welfare realized from an innovation. We find that different policy measures affect the outcomes of the two stages of biotechnological innovation differently, which leaves some ambiguity as to which patent protection regimes might be strictly preferable. However, general direction of policy improvement is identified.

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    File URL: http://purl.umn.edu/19802
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    Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number 19802.

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    Date of creation: 2002
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    Handle: RePEc:ags:aaea02:19802
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    1. Horowitz, Andrew W & Lai, Edwin L-C, 1996. "Patent Length and the Rate of Innovation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 785-801, November.
    2. Green, J.R. & Scotchmer, S., 1993. "On the Division of Profit in Sequential Innovation," Harvard Institute of Economic Research Working Papers 1638, Harvard - Institute of Economic Research.
    3. Kalaitzandonakes, Nicholas G. & Bjornson, Bruce, 1997. "Vertical And Horizontal Coordination In The Agro-Biotechnology Industry: Evidence And Implications," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 29(01), July.
    4. Klemperer, Paul, 1990. "How Broad Should the Scope of Patent Protection Be?," CEPR Discussion Papers 392, C.E.P.R. Discussion Papers.
    5. Suzanne Scotchmer, 1996. "Protecting Early Innovators: Should Second-Generation Products Be Patentable?," RAND Journal of Economics, The RAND Corporation, vol. 27(2), pages 322-331, Summer.
    6. Loury, Glenn C, 1979. "Market Structure and Innovation," The Quarterly Journal of Economics, MIT Press, vol. 93(3), pages 395-410, August.
    7. Howard F. Chang, 1995. "Patent Scope, Antitrust Policy, and Cumulative Innovation," RAND Journal of Economics, The RAND Corporation, vol. 26(1), pages 34-57, Spring.
    8. Lee, Tom & Wilde, Louis L, 1980. "Market Structure and Innovation: A Reformulation," The Quarterly Journal of Economics, MIT Press, vol. 94(2), pages 429-36, March.
    9. Harhoff, Dietmar & Régibeau, Pierre & Rockett, Katharine, 2001. "Some simple economics of GM food," Munich Reprints in Economics 20396, University of Munich, Department of Economics.
    10. Kalaitzandonakes, Nicholas G. & Marks, Leonie A., 2000. "Innovation Dynamics And Optimal Licensing Strategies In The Agro-Biotechnology Industry," Proceedings:Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 26013, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    11. Kalaitzandonakes, Nicholas G. & Hayenga, Marvin L., 2000. "Structural Change In The Biotechnology And Seed Industrial Complex: Theory And Evidence," Proceedings:Transitions in Agbiotech: Economics of Strategy and Policy, June 24-25, 1999, Washington, D.C. 26026, Regional Research Project NE-165 Private Strategies, Public Policies, and Food System Performance.
    12. Richard Gilbert & Carl Shapiro, 1990. "Optimal Patent Length and Breadth," RAND Journal of Economics, The RAND Corporation, vol. 21(1), pages 106-112, Spring.
    13. Ted O'Donoghue, 1998. "A Patentability Requirement for Sequential Innovation," RAND Journal of Economics, The RAND Corporation, vol. 29(4), pages 654-679, Winter.
    14. Gilbert, Richard J & Newbery, David M G, 1982. "Preemptive Patenting and the Persistence of Monopoly," American Economic Review, American Economic Association, vol. 72(3), pages 514-26, June.
    15. Denicolo, Vincenzo, 1999. "The optimal life of a patent when the timing of innovation is stochastic," International Journal of Industrial Organization, Elsevier, vol. 17(6), pages 827-846, August.
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