A framework is developed for examining price and welfare effects of the introduction of genetically modified(GM)products. In the short run, non-GM grain generally becomes another identity-preserved product. However, more profound market effects are observed under some reasonable...

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Abstract Currently Unavailable.

Abstract Currently Unavailable.

Abstract Currently Unavailable.

A two-country extension of an ex ante simulation model of research and development (R&D) in agriculture developed by Lence, Hayes, McCunn, Smith, and Niebur (2005) is used to analyze issues regarding intellectual property (IP) protection, spillovers, and genetic use restriction technologies...

Abstract Currently Unavailable.

New biotechnologies and associated organizational changes may affect farmland values and rental rates, in so doing, influence the distribution of benefits and costs from these innovations along the agricultural value chain. The magnitudes of the resulting changes in the rental rates and values...

The present study provides a comparative analysis of the pork in Spain and the U.S. In both countries, primary pork production has become much more "industrialized," and environmental regulations, population density, and other factors induced the relocation of production facilities. Competitive...

Production and hedging in both forward and options markets are analyzed for forward-looking firms that maximize expected utility. In the presence of unbiased forward and options prices, it is shown that such firms will use options as hedging instruments. This result contrasts with the...