MODELING INTERNATIONAL TRADE IMPACTS OF GENETICALLY MODIFIED WHEAT INTRODUCTIONS

Eric DeVuyst, Won W. Koo, Cheryl Sinn DeVuyst and Richard D. Taylor

No 23550, Agribusiness & Applied Economics Report from North Dakota State University, Department of Agribusiness and Applied Economics

Abstract: Planned introductions of genetically modified crop varieties can be troublesome to model. Estimation of demand and supply equations is not feasible due to lack of data. Further, specifying demand and supply equations requires calibration to a presumed equilibrium. Depending on the point chosen, highly questionable results may be obtained. We propose a model that uses existing supply, demand, and elasticity estimates. The approach relies on composite supply and demand functions. These composite functions are linear combinations of GM and non-GM varieties. We then employ this approach in a model of world wheat trade to analyze the impact of several plausible GM wheat adoption and consumer acceptability scenarios.

Keywords: International Relations/Trade; Research and Development/Tech Change/Emerging Technologies (search for similar items in EconPapers)
Pages: 23
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nddaae:23550

DOI: 10.22004/ag.econ.23550

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