| Registro completo |
| Provedor de dados: |
AgEcon
|
| País: |
United States
|
| Título: |
Is Monsanto Leaving Money on the Table? Monopoly Pricing and Bt Cotton Value with Heterogeneous Adopters
|
| Autores: |
Oehmke, James F.
Wolf, Christopher A.
|
| Data: |
2008-09-22
|
| Ano: |
2004
|
| Palavras-chave: |
Biotechnology
Bt cotton
Heterogeneous adopters
Innovation
Monopoly pricing
Technology
Valuation distribution
L1
O3
Q1
|
| Resumo: |
We examine the allocation of technology rents between a price-setting, innovating monopolist and heterogeneous technology adopters. A model of monopoly pricing in the presence of heterogeneous adopters is used to examine conditions under which greater producer (farmer) heterogeneity leads to greater producer benefit from innovation in non-competitive markets. An application to Bt cotton determines the profit-maximizing price of Bt cotton seed and reveals that Monsanto and Delta and Pine Land are indeed leaving money on the table in the form of unexploited profit opportunities. However, we estimate that the presence of heterogeneous adopters explains over 80% of the rents that accrue to the farmers.
|
| Tipo: |
Journal Article
|
| Idioma: |
Inglês
|
| Identificador: |
http://purl.umn.edu/43469
|
| Relação: |
Journal of Agricultural and Applied Economics>Volume 36, Number 03, December 2004
|
| Formato: |
14
|
