Ex-ante regulations and ex-post liabilities for using a new technology will induce additional costs for adopters. The standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of negotiating possible cost reductions. The case analysed is...

Ex-ante regulations and ex-post liabilities for using a new technology will induce additional costs for adopters. The standard model is advanced by including irreversibility and uncertainty and taking into account transaction costs of negotiating possible cost reductions. The case analysed is...

The advantages and disadvantages of genetic modification of organisms in agriculture are reviewed. These relate to the environment, human health, socio-economic effects, population growth, and differential consequences for developed and developing countries. An overall evaluation requires that...

Constraints on land and water resources, growth in population, and an apparent slowdown in agricultural productivity raise concerns that food prices may rise substantially in the coming decades. A key question is whether policies aimed at increasing agricultural productivity may be effective in...

More than 15 years after their first successful commercial introduction in the United States, genetically engineered (GE) seeds have been widely adopted by U.S. corn, soybean, and cotton farmers. Still, some questions persist regarding the potential benefits and risks of GE crops. The report...

Technological innovation in agriculture can bring enormous benefits to the poor. High-yielding varieties of staple food crops have improved agricultural productivity, raised incomes, and reduced food prices. Innovations in plant breeding research based on advances in genetics that make it...