Publications [#239013] of Curtis R. Taylor

Journal Articles

1. Burton, DM; Love, HA; Ozertan, G; Taylor, CR, Property rights protection of biotechnology innovations, Journal of Economics and Management Strategy, vol. 14 no. 4 (December, 2005), pp. 779-812, WILEY, ISSN 1058-6407 [doi]
   (last updated on 2024/04/16)

   Abstract:
   Protection of intellectual property embedded in self-replicating biological innovations, such as genetically modified seed, presents two problems for the innovator: the need for copy protection of intellectual property and price competition between new seed and reproduced seed. We consider three regimes in two periods with asymmetric information: short-term contracts, biotechnological protection, and long-term contracts. We find that piracy imposes more intense competition for seed sales than does durability alone. Technology protection systems yield highest firm profit and long-term contracts outperform short-term contracts. Farmers prefer, in order, long-term, short-term, and biotechnical protection. Depending on monitoring cost, long-term contracts may be socially preferred to short-term contracts, with both preferred to biotechnical protection. © 2005 Blackwell Publishing.