Oehmke, James F; Wolf, Christopher A; Raper, Kellie Curry - In: Journal of Agricultural & Food Industrial Organization 3 (2005) 2
Over the past twenty years, the R&D-based agricultural biotechnology industry has exhibited cyclical behavior in consolidation. This paper provides a positive, theoretical model of endogenous R&D, in which the number of firms engaged in R&D exhibits cyclical behavior. Additional, empirically...