IDEAS home Printed from https://ideas.repec.org/p/ags/aaea14/169667.html
   My bibliography  Save this paper

A Hedonic Model of Corn Seed Prices

Author

Listed:
  • Fernandez-Cornejo, Jorge
  • Valle, Karen

Abstract

A notable feature of the adoption of genetically engineered (GE) corn is the rapid growth in seed prices accompanied by rapid increases in GE corn with multiple (stacked) traits, which have often seen to offer several advantages to farmers, particularly increased yields. This paper presents preliminary empirical results on the estimation of the pricing of seed traits for corn using 2010 data. The hedonic approach used entails expressing the price of seed as a function of their “quality characteristics.” The quality characteristics considered in our hedonic function are three insect resistance traits (Bt to control the European corn borer, corn rootworm, and corn earworm), GE herbicide tolerance traits (glyphosate, glufosinate), and non-GE herbicide tolerance traits (IMI-corn). The conventional seed was considered as the base.

Suggested Citation

  • Fernandez-Cornejo, Jorge & Valle, Karen, 2014. "A Hedonic Model of Corn Seed Prices," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 169667, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:169667
    DOI: 10.22004/ag.econ.169667
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/169667/files/AAEA2014%20SP%20-%20Fernandez-Cornejo%20and%20Valle%20-%20Hedonic%20model%20for%20seed%2005_21_2014.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.169667?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Guanming Shi & Jean-paul Chavas & Kyle Stiegert, 2010. "An Analysis of the Pricing of Traits in the U.S. Corn Seed Market," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 92(5), pages 1324-1338.
    2. Elizabeth Nolan & Paulo Santos, 2012. "The Contribution of Genetic Modification to Changes in Corn Yield in the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(5), pages 1171-1188.
    3. Fernandez-Cornejo, Jorge & Livingston, Michael J. & Mitchell, Lorraine & Wechsler, Seth, 2014. "Genetically Engineered Crops in the United States," Economic Research Report 164263, United States Department of Agriculture, Economic Research Service.
    4. Jorge Fernandez-Cornejo & Sharon Jans, 1995. "Quality-Adjusted Price and Quantity Indices for Pesticides," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 77(3), pages 645-659.
    5. Guanming Shi & Jean-Paul Chavas & Joseph Lauer & Elizabeth Nolan, 2013. "An Analysis of Selectivity in the Productivity Evaluation of Biotechnology: An Application to Corn," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 95(3), pages 739-754.
    6. Shi, Guanming & Stiegert, Kyle W. & Chavas, Jean-Paul, 2009. "An Analysis of Pricing in the U.S. Cotton Seed Market," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 51617, Agricultural and Applied Economics Association.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fernandez-Cornejo, Jorge & Livingston, Michael J. & Mitchell, Lorraine & Wechsler, Seth, 2014. "Genetically Engineered Crops in the United States," Economic Research Report 164263, United States Department of Agriculture, Economic Research Service.
    2. Paul Vincelli, 2016. "Genetic Engineering and Sustainable Crop Disease Management: Opportunities for Case-by-Case Decision-Making," Sustainability, MDPI, vol. 8(5), pages 1-22, May.
    3. Federico Ciliberto & GianCarlo Moschini & Edward D. Perry, 2019. "Valuing product innovation: genetically engineered varieties in US corn and soybeans," RAND Journal of Economics, RAND Corporation, vol. 50(3), pages 615-644, September.
    4. Seungki Lee & Yongjie Ji & GianCarlo Moschini, 2021. "Agricultural Innovation and Adaptation to Climate Change: Insights from Genetically Engineered Maize," Center for Agricultural and Rural Development (CARD) Publications 21-wp616, Center for Agricultural and Rural Development (CARD) at Iowa State University.
    5. Jayson L. Lusk & Jesse Tack & Nathan P. Hendricks, 2018. "Heterogeneous Yield Impacts from Adoption of Genetically Engineered Corn and the Importance of Controlling for Weather," NBER Chapters, in: Agricultural Productivity and Producer Behavior, pages 11-39, National Bureau of Economic Research, Inc.
    6. Taheripour, Farzad & Mahaffey, Harry & Tyner, Wallace E., 2015. "Evaluation of Economic, Land Use, and Land Use Emission Impacts of Substituting Non-GMO Crops for GMO in the US," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 204907, Agricultural and Applied Economics Association.
    7. Elizabeth Nolan & Paulo Santos, 2019. "Genetic modification and yield risk: A stochastic dominance analysis of corn in the USA," PLOS ONE, Public Library of Science, vol. 14(10), pages 1-10, October.
    8. Serkan Aglasan & Barry K. Goodwin & Roderick M. Rejesus, 2023. "Risk effects of GM corn: Evidence from crop insurance outcomes and high‐dimensional methods," Agricultural Economics, International Association of Agricultural Economists, vol. 54(1), pages 110-126, January.
    9. Aglasan, Serkan & Goodwin, Barry K. & Rejesus, Roderick, 2020. "Genetically Modified Rootworm-Resistant Corn, Risk, and Weather: Evidence from High Dimensional Methods," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 305181, Agricultural and Applied Economics Association.
    10. Giammario Impullitti & Richard Kneller & Danny McGowan, 2020. "Demand‐Driven Technical Change and Productivity Growth: Theory and Evidence FROM the Energy Policy Act," Journal of Industrial Economics, Wiley Blackwell, vol. 68(2), pages 328-363, June.
    11. Guanming Shi & Kyle W. Stiegert & Jean P. Chavas, 2011. "An analysis of bundle pricing in horizontal and vertical markets: The case of the U.S. cottonseed market," Agricultural Economics, International Association of Agricultural Economists, vol. 42, pages 77-88, November.
    12. Pavla BLAHOVA & Karel JANDA & Ladislav KRISTOUFEK, 2014. "The perspectives for genetically modified cellulosic biofuels in the Central European conditions," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 60(6), pages 247-259.
    13. Jonas Kathage & Manuel Gómez-Barbero & Emilio Rodríguez-Cerezo, 2016. "Framework for assessing the socio-economic impacts of Bt maize cultivation," JRC Research Reports JRC103197, Joint Research Centre.
    14. Nehring, Richard F. & Ball, V. Eldon & Breneman, Vincent E., 2002. "Land Quality in an International Comparison: It's Importance in Measuring Productivity," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24910, European Association of Agricultural Economists.
    15. Carmen Bain & Tamera Dandachi, 2014. "Governing GMOs: The (Counter) Movement for Mandatory and Voluntary Non-GMO Labels," Sustainability, MDPI, vol. 6(12), pages 1-21, December.
    16. Ilin, Cornelia & Shi, Guanming, 2016. "Competition, Price Dispersion and Capacity Constraints: The Case of the U.S. Corn Seed Industry," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 236532, Agricultural and Applied Economics Association.
    17. Obi-Egbedi, Ogheneruemu & Oluwatayo, Isaac B. & Ogungbite, Omowunmi, 2020. "Genetically Modified Crops’ Technology and its Awareness among Smallholder Farmers in Nigeria," Problems of World Agriculture / Problemy Rolnictwa Światowego, Warsaw University of Life Sciences, vol. 20(35, Part ), December.
    18. Zhu, Manhong & Schmitz, Andrew & Schmtiz, Troy G., 2016. "Why Has not Genetically Modified Wheat Been Commercialized: A Game Theoretical Perspective," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 230796, Southern Agricultural Economics Association.
    19. Liu, Y. & Ker, A., 2018. "Is There Too Much History in Historical Yield Data," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277293, International Association of Agricultural Economists.
    20. Edward D. Perry & GianCarlo Moschini & David A. Hennessy, 2016. "Testing for Complementarity: Glyphosate Tolerant Soybeans and Conservation Tillage," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(3), pages 765-784.

    More about this item

    Keywords

    Crop Production/Industries; Farm Management; Production Economics;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aaea14:169667. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.