This paper builds on the work of BUSCHENA and GRAY (1999) to look at the effects of mergers in the North American malting industry as ten firms in two separated markets merged into four firms in an integrated market. We explore the sensitivity of our results to the assumption of market power. We...

The current round of negotiations of the General Agreement on Trade and Tariffs (GATT) represents a major initiative of economic reform. Initiatives for trade reform are far from new. A facilitative framework has been proposed that ranks policies according to their level of price...

Game theory is used to examine the incentives for private firms to fund applied research to improve differentiated crop varieties sold to compete with a public generic variety. We distinguish between applied research, modeled as a stochastic search process, and basic research, which improves...

The influx of private investment into crop research, which has accompanied the establishment of intellectual property rights (IPRs) and the introduction of biotechnology, suggests high rates of return. However, the empirical analysis of the canola research sector shows a decline in the total net...