Valuing Product Innovation: Genetically Engineered Varieties in U.S. Corn and Soybeans
Federico Ciliberto,
GianCarlo Moschini and
Edward Perry
No 13525, CEPR Discussion Papers from C.E.P.R. Discussion Papers
Abstract:
We develop a discrete-choice model of differentiated products for U.S. corn and soybean seed demand to study the welfare impact of genetically engineered (GE) crop varieties. Using a unique dataset spanning the period 1996-2011, we find that the welfare impact of the GE innovation is significant. In the last five years of the period analyzed, our preferred counterfactual indicates that total surplus due to GE traits was $5.18 billion per year, with seed manufacturers appropriating 56% of this surplus. The seed industry obtained more surplus from GE corn, whereas farmers received more surplus from GE soybeans.
Date: 2019-02
New Economics Papers: this item is included in nep-com and nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (17)
Downloads: (external link)
https://cepr.org/publications/DP13525 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org
Related works:
Journal Article: Valuing product innovation: genetically engineered varieties in US corn and soybeans (2019) 
Working Paper: Valuing Product Innovation: Genetically Engineered Varieties in U.S. Corn and Soybeans (2017) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:13525
Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP13525
Access Statistics for this paper
More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().