Showing 1 - 10 of 251
We examine the welfare impact of different intellectual property protection (IPP) regimes in private sector seed research and development (R&D). We take into account the period after expiration of legal IPP, and require simultaneous equilibrium in markets for R&D, seeds, and final product....
Persistent link: https://www.econbiz.de/10005154926
This study develops a method to estimate the probability density function of the Federal Risk Management Agency's (RMA's) net income from reinsuring crop insurance for corn, wheat, and soybeans. When calibrated using 1997 data, results from the advocated method show that in 1997 there was a 5%...
Persistent link: https://www.econbiz.de/10005433211
This study estimates the probability density function of the government's net income from reinsuring crop insurance for corn, wheat, and soybeans. Based on 1997 data, it is estimated there is a 5% probability that the government will need to reimburse at least $1 billion to insurance companies,...
Persistent link: https://www.econbiz.de/10005433406
We examine the incentives of atomistic producers to differentiate and collectively market products. We analyze market and welfare effects of alternative producer organizations, discuss circumstances under which they will evolve, and describe implications for the ongoing debate between the EU and...
Persistent link: https://www.econbiz.de/10005436723
The production and hedging behavior of forward-looking risk-averse competitive firms is studied. It is shown that there is separation between production and hedging. Optimal production for a forward-looking firm is identical to that of an otherwise equivalent myopic firm. However, the optimal...
Persistent link: https://www.econbiz.de/10005436775
Abstract Currently Unavailable.
Persistent link: https://www.econbiz.de/10005436803
We quantify the economic impact of introducing genetically modified (GM) crops. Short-run results suggest that it might be optimal to maintain the identity of a greater proportion of non-GM grain than is currently demanded by non-GM consumers. Long-run results show that GM crops almost always...
Persistent link: https://www.econbiz.de/10005436901
Decision making under unknown true parameters (estimation risk) is discussed along with Bayes' and parameter certainty equivalent (PCE) criteria. Bayes' criterion incorporates estimation risk in a manner consistent with expected utility maximization. The PCE method, which is the most commonly...
Persistent link: https://www.econbiz.de/10005437160
The welfare implications of intellectual property protection (IPP) for private sector agricultural research are analyzed, focusing on the realistic cases where countries provide different IPP levels, technology spills over across countries, and the public sector is involved in research. A model...
Persistent link: https://www.econbiz.de/10005437259
Persistent link: https://www.econbiz.de/10005437300