PRODUCTION SYSTEMS COMPETITION AND THE PRICING OF INNOVATIONS: AN APPLICATION TO BIOTECHNOLOGY AND SEED CORN

Corinne Alexander and Rachael Evadne Goodhue

No 21646, 1999 Annual meeting, August 8-11, Nashville, TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

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.

Keywords: biotechnology; corn; Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Date: 1999
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