Advances in the genetic modification of agricultural seeds have allowed a range of new opportunities for manipulating seed traits according to production, market and environmental concerns. As seed varieties continue to become increasingly differentiated, preferences for specific seed traits may...

The Bayh-Dole Act of 1980, key court decisions, and several breakthrough process technologies, paved the way for a period of remarkable growth in the patenting of life science research by U.S. universities in the 1980s and 1990s. Using a multiple-output cost framework and panel data on 96...

This paper develops an economic and econometric analysis of demand dynamics, with an application to US aggregate data over the period 1948-2010. The model builds on duality and the benefit function, which provide strong linkages with the theory. The research involves the specification and...

The paper explores the issue of price and expenditure endogeneity in empirical demand analysis. The analysis focuses on the US carbonated soft drink market. We test the null hypothesis that price and expenditures are exogenous in the demand for carbonated soft drinks. Using an Almost Ideal...

The paper investigates price dynamics under market liberalization, with a focus on the effects of lowering price floors. We analyze price dynamics by specifying and estimating a dynamic Tobit model under time-varying volatility, where the market price is censored by a government-set support...

Market structure and strategic pricing for leading brands sold by Coca Cola and Pepsi Inc. are investigated in the context of a flexible demand specification and structural price equations. This approach is more general than prior studies that rely upon linear approximations and interactions of...

This paper presents an econometric analysis of the effects of price support program and stocks on price dynamics and price volatility. Considering a price support program as a censoring scheme, market prices are specified as a dynamic Tobit model under time varying volatility. The model is...

The paper investigates the implications of hedonic pricing of components, with an application to the dynamics of dairy product prices. A conceptual model of hedonic pricing is developed under a Leontief technology, showing how commodity prices reflect the underlying value of their components....