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Production Systems Competition And The Pricing Of Innovations: An Application To Biotechnology And Seed Corn

Author

Listed:
  • Alexander, Corinne E.
  • Goodhue, Rachael E.

Abstract

Farmers now choose production systems rather than individual inputs. This change may limit biotechnology innovation rents. We model a corn farmer's production choice among four systems: traditional, herbicide-resistant, insect resistant, and high-oil. We compare actual seed and chemical prices to the maximum rent the biotechnology firm can obtain.

Suggested Citation

  • Alexander, Corinne E. & Goodhue, Rachael E., 1999. "Production Systems Competition And The Pricing Of Innovations: An Application To Biotechnology And Seed Corn," 1999 Annual meeting, August 8-11, Nashville, TN 21646, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea99:21646
    as

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    File URL: http://ageconsearch.umn.edu/record/21646/files/sp99al01.pdf
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    References listed on IDEAS

    as
    1. Pray, Carl E. & Fuglie, Keith O. & Johnson, Daniel K.N., 2007. "Private Agricultural Research," Handbook of Agricultural Economics, Elsevier.
    2. 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.
    3. Fuglie, Keith O. & Klotz-Ingram, Cassandra & Gill, Mohinder, 1996. "Intellectual Property Rights Encourage Private Investment in Plant Breeding," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 0(Issue 1), pages 1-2.
    4. Mingxia Zhang, 1997. "The Effects of Imperfect Competition on the Size and Distribution of Research Benefits," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(4), pages 1252-1265.
    5. Julian M. Alston & Philip G. Pardey & Jennifer S. James & Matthew A. Anderson, 2009. "The Economics of Agricultural R&D," Annual Review of Resource Economics, Annual Reviews, vol. 1(1), pages 537-566, September.
    6. Kalaitzandonakes, Nicholas & Bjornson, Bruce, 1997. "Vertical and Horizontal Coordination in the Agro-biotechnology Industry: Evidence and Implications," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 29(01), pages 129-139, July.
    7. Goodhue, Rachael E. & Rausser, Gordon C., 2003. "Value Differentiation," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 0(Number 3), pages 1-21, December.
    8. Frisvold, George B. & Fuglie, Keith O. & Klotz-Ingram, Cassandra, 1998. "Growth of Private Agricultural Research," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 0(Issue 2), pages 1-2.
    9. Julian M. Alston & Philip G. Pardey, 1996. "Making Science Pay: The Economics of Agricultural R&D Policy," Books, American Enterprise Institute, number 53242, July.
    10. Richard E. Just & Darrell L. Hueth, 1993. "Multimarket Exploitation: The Case of Biotechnology and Chemicals," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(4), pages 936-945.
    11. Nicholas Kalaitzandonakes, 1997. "Mycogen: Building a Seed Company for the Twenty-first Century," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 19(2), pages 453-462.
    12. 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. 0(Number 1), pages 1-11, July.
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    Cited by:

    1. Demont, Matty & Tollens, Eric, 2001. "Uncertainties Of Estimating The Welfare Effects Of Agricultural Biotechnology In The European Union," Working Papers 31828, Katholieke Universiteit Leuven, Centre for Agricultural and Food Economics.
    2. Maxwell, Brett J. & Wilson, William W. & Dahl, Bruce L., 2004. "Marketing Mechanisms In Gm Grains And Oilseeds," Agribusiness & Applied Economics Report 23639, North Dakota State University, Department of Agribusiness and Applied Economics.

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