RESHAPING THE CONVENTIONAL WELFARE ECONOMICS FRAMEWORK FOR ESTIMATING THE ECONOMIC IMPACT OF AGRICULTURAL BIOTECHNOLOGY IN THE EUROPEAN UNION

Some of the crucial assumptions of applied welfare economics do not hold any longer in the case of agricultural biotechnology innovations. We review some modifications to the conventional methodologies measuring the size and distribution of agricultural research benefits, which are critical for the assessment of the economic impact of agricultural biotechnology in the European Union. While some modifications are related to the specific features of modern agricultural biotechnology and technology adoption, others are related to the specific institutional settings of the European UnionÂ’'s Common Agricultural Policy and commodity markets.


Issue Date:
2001
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/31835
Total Pages:
38
Series Statement:
Working Paper 57




 Record created 2017-04-01, last modified 2017-08-24

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