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Wiley InterScience | |||||||||||
  American Journal of Agricultural EconomicsVolume 87 Issue 3, Pages 621 - 644 Published Online: 15 Jul 2005 © 2009 Agricultural and Applied Economics Association
Abstract | References | Full Text: HTML, PDF (Size: 205K) | Related Articles | Citation Tracking 
Genetically Modified Crops and Product Differentiation: Trade and Welfare Effects in the Soybean Complex
The support of the U.S. Department of Agriculture, through a one-year cooperative agreement and through a National Research Initiative grant, is gratefully acknowledged. Copyright 2005 American Agricultural Economics Association KEYWORDS biotechnology • differentiated demand • identity preservation • international trade • soybeans ABSTRACTA partial equilibrium four-region world trade model for the soybean complex is developed in which Roundup Ready (RR) products are weakly inferior substitutes to conventional ones, RR seeds are priced at a premium, and costly segregation is necessary to separate conventional and biotech products. Solution of the calibrated model illustrates how incomplete adoption of RR technology arises in equilibrium. The United States, Argentina, Brazil, and the Rest of the World (ROW) all gain from the introduction of RR soybeans, although some groups may lose. The impacts of RR production or import bans by the ROW or Brazil are analyzed. U.S. price support helps U.S. farmers, despite hurting the United States and has the potential to improve world efficiency. [Received June 2003; accepted October 2004.] | 
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