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Regulation and the Structure of Biotechnology Industries

Paul Heisey and David Schimmelpfennig
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Paul Heisey: Economic Research Service

Chapter Chapter 19 in Regulating Agricultural Biotechnology: Economics and Policy, 2006, pp 421-436 from Springer

Abstract: Abstract The agricultural biotechnology industry has experienced consolidation. As a form of sunk costs, increased regulatory costs could contribute to exit by smaller firms and increasing industry concentration. Cost and revenue factors other than regulation, however, are more likely to explain consolidation to date. Regulation may be endogenous, as innovators make greater attempts to influence the regulatory process when marginal benefits of innovation are higher, when environmental/consumer lobbies are less active, and when marginal costs of influence are lower. For large agricultural biotechnology firms, there is a rough positive relationship between firms’ R&D or net sales and the amounts they devote to lobbying and campaign contributions.

Keywords: agricultural biotechnology; regulation; industry structure; political economy (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/978-0-387-36953-2_19

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