Innovation in the Seed Market: The Role of IPRs and Commercialization Rules
This article deals with the impact of legislation in the seed sector on incentives for variety creation. The first category of rules consists in intellectual property rights and is intended to address a problem of sequential innovation and R&D investments. The second category concerns commercial rules that are intended to correct a problem of adverse selection. We propose a dynamic model of market equilibrium with vertical product differentiation that enables us to take into account the economic consequences of imposing either Plant Breeders' Rights (PBRs) or patents as IPRs and either compulsory registration or minimum standards as commercialisation rules. The main result is that the combination of minimum standards and PBRs (patents) provides higher incentives for sequential and initial innovation and may be preferred by a public regulator when sunk investment costs are low (high) and the probability of R&D success is sufficiently high (low).
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|Date of creation:||2016|
|Publication status:||Published in Journal of Agricultural and Food Industrial Organization, De Gruyter, 2016, 14, pp.51 - 68|
|Note:||View the original document on HAL open archive server: https://hal-univ-paris10.archives-ouvertes.fr/hal-01386009|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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