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Abstract
In recent decades, the U.S. crop seed industry has become more concentrated, with fewer and larger firms dominating seed supply. Expanded intellectual property rights combined with structural changes in the seed industry spurred seed and biotechnology companies to increase research and development (R&D) spending that resulted in a series of innovations to crop agriculture. At the same time, seed prices have risen substantially, especially for genetically modified varieties, reflecting the value of improved seed varieties and gains in market power for top seed companies.