Genetically Modified Crops: Their Market and Welfare Impacts
A framework is developed for examining price and welfare effects of the introduction of genetically modified(GM)products. In the short run, non-GM grain generally becomes another identity-preserved product. However, more profound market effects are observed under some reasonable parameterizations. When calibrated to reflect the U.S. corn market, introducing GM technology increases aggregate welfare over a wide range of scenarios, unless the corresponding production cost savings are small and consumers are seriously concerned about GM products. The possibility that GM technology may reduce aggregate welfare is interesting because the model assumes rational agents and does not include regulatory constraints.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||01 Nov 2005|
|Publication status:||Published in American Journal of Agricultural Economics, November 2005, vol. 87 no. 4, pp. 931-950|
|Contact details of provider:|| Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070|
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- McCluskey, Jill J., 2000. "This Product May Contain GMOs," Choices, Agricultural and Applied Economics Association, vol. 15(2).
- Miranowski, John A. & Moschini, Giancarlo & Babcock, Bruce A. & Duffy, Michael & Wisner, Robert & Beghin, John C. & Hayes, Dermot J. & Lence, Sergio H & Baumel, C. Phillip & Harl, Neil E., 1998.
"Economic Perspectives on GMO Market Segregation,"
ISU General Staff Papers
199801010800001297, Iowa State University, Department of Economics.
- Miranowski, John & Moschini, GianCarlo & Babcock, Bruce A. & Duffy, Michael & Wisner, Robert N. & Beghin, John C. & Hayes, Dermot J. & Lence, Sergio H. & Baumel, C. Phillip & Harl, Neil E., 1999. "Economic Perspectives on GMO Market Segregation," Staff General Research Papers Archive 11407, Iowa State University, Department of Economics.
- Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.