Innovation and Dynamic Efficiency in Agricultural Biotechnology

Abstract

Innovation is the key to firm survival and growth in many industries, but nowhere more so than in agricultural biotechnology. Understanding the causes and consequences of biotechnology innovation requires negotiating a complex thicket of economic, policy, and technical themes. These themes include questions of optimal patent policy, market structure, and antitrust policy in both the innovation market and the output market, public-private collaboration, public-sector research and development (R&D) in agricultural biotechnology, and the management of intellectual property owned by universities and government research organizations.