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Innovation of Agricultural Biotechnology with Experimental Use Licensing
oleh: Jeremy Jackson, Jason Smith
| Format: | Article |
|---|---|
| Diterbitkan: | Western Agricultural Economics Association 2019-01-01 |
Deskripsi
Innovation in agricultural biotechnology seed products can be characterized as a non-drastic innovative process with product differentiation. We model this innovation and examine the pricing and purchase decisions for experimental use licensing. In equilibrium, a technologically advantaged firm will purchase a license, while a technologically disadvantaged firm will not. This is the case regardless of the order of pricing decisions.