Small firms developing biotechnology applications often focus on establishing intellectual property rights, which can then be sold to more established firms with existing market chains. This paper explores the expected 'Buyout' price and economic surplus changes for an emerging bio-pharming...

Small research firms developing biotechnology applications often focus on establishing intellectual property rights (IPRs), which can then be sold to more established firms with existing market channels. This paper presents a method for valuing the IPRs for an innovation that lowers product...

Community colleges likely draw to college individuals who would otherwise not attend due to their low costs and open admission requirements. This is labeled as the democratization effect. They may also divert individuals away from 4-year to terminal 2-year college degrees (the diversion effect)....

The potential size and distribution of benefits from transgenic tobacco as a source of human serum albumin are estimated using an economic surplus model with imperfect competition. The results demonstrate that new products from bio-pharming applications stand to generate significant social benefits.

Replaced with revised version of paper 07/07/11.

This paper examines the ex-ante benefits of transgenic research on drought in eight developing countries, including the potential magnitude of private sector profits. The framework employs country-specific agroecological-drought risk zones and considers both yield increases and yield variance...