| An argument in favor of the development of genetically modified (GM) hybrids is that their presence is considered to be risk decreasing. On this basis, insurance premiums for corn growers in the United States who plant approved hybrids have been reduced. In this study we investigate, using a large dataset of experimental data compiled from reports of results from experimental field trials of corn hybrids by the State Agricultural Extension Services of ten universities over 20 years, whether the presence in a corn hybrid of a GM trait, or a combination of these traits, is likely to increase or decrease risk. The effects of input use on production uncertainty can be quantified through the specification and estimation of heteroskedastic production functions... |
