This study applies a real option approach to quantify, ex-ante, the maximum incremental social tolerable irreversible costs that would justify immediate adoption of Bt maize in France. Based on field trials, we find that incremental private reversible benefits in the agricultural sector are -18...

In this paper the option value of waiting under scientific uncertainty will be derived using the difference between the geometric Brownian motion and the mean reverting process by applying contingent claim analysis. The results will be compared with those generated by either using a geometric...

In this paper we empirically assess and compare the environmental impact of pesticide programs for Bt, Ht (glufosinate) and conventional corn in Europe, employing the Environmental Impact Quotient. We use field trial data from Narbons, France 2004 as well as secondary data. Our results show that...