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Monopolization and the regulation of genetically modified crops: an economic model

Published online by Cambridge University Press:  06 January 2003

Alistair Munro
Alistair Munro
Affiliation:
School of Economic and Social Studies, University of East Anglia, Norwich, NR4 7TJ, UK. E-mail: a.a.munro@uea.ac.uk
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Abstract

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Although genetically modified organisms (GMOs) have recently attracted a great deal of public attention, analysis of their economic impact has been far less common. This paper puts forward variants of a simple model of crop production, each one tailored to a particular aspect of transgenic food technology. The focus is on the possibility of monopolization and its consequential welfare costs. Risk factors identified include moderate cost savings from transgenic varieties, high seed storage costs, and high risks of crop loss. The paper also discusses some of the possible remedies including tighter regulation of anti-competitive practices and liberalization of the regulations governing the introduction of new GMOs.

Type
Special Section: Genetically Modified Crops
Information
Environment and Development Economics , Volume 8 , Issue 1 , February 2003 , pp. 167 - 186
Copyright
© 2003 Cambridge University Press

Footnotes

In addition to the very useful suggestions of two anonymous referees, I am grateful for comments from the participants at the Biotechnology, Environmental Policy and Agriculture Workshop on the Management of the Impacts of Biotechnologies, Rome, May 2000, particularly Tim Swanson and my discussant, Gardner Brown.