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MARKETING MECHANISMS IN GM GRAINS AND OILSEEDS

Abstract

A number of challenges exist for genetically modified (GM) crop development at the production level. Contract strategies can resolve these challenges. Contracts can be designed to induce legal adoption of GM wheat by varying technology fees, violation detection, and penalties. The primary objective of this research is to analyze contracting strategies to determine terms to minimize technology agreement violation and to induce legal adoption of GM wheat. A simulation model of a crop budget for Hard Red Spring wheat was developed. Results illustrate that contracts can be designed to induce desired behavior. Technology fee, probability of detection, and the level of non-GM premium were the most notable factors influencing adoption decisions.Producer Decisions, Risk, Genetically Modified, Contract Terms, Wheat, Crop Production/Industries,

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Research Papers in Economics

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Last time updated on 7/6/2012View original full text link

This paper was published in Research Papers in Economics.

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