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A Hedonic Model of Corn Seed Prices

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  • 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
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    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.
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    Keywords

    Crop Production/Industries; Farm Management; Production Economics;
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