Intellectual property rights are legal constraints that limit entry in industries where incumbentsare innovators. The set of legal constraints is the same for all industries, withoutconsidering that the externalities created by entry are not necessarily negative for the incumbentor that the...

In this paper we relate the economics of labeling genetically modified (GM) products to thetheory of grading and minimum quality standards. The model represents three stages in thesupply chain (farm production, marketing handlers, and final users) and allows explicitly for theaccidental...