Surplus Distribution from the Introduction of a Biotechnology Innovation

@article{FalckZepeda2000SurplusDF,
  title={Surplus Distribution from the Introduction of a Biotechnology Innovation},
  author={Jose B Falck-Zepeda and Greg Traxler and Robert G. Nelson},
  journal={ERN: Econometric Studies of Private Equity},
  year={2000}
}
We examine the distribution of welfare from the introduction of Bt cotton in the United States in 1996. The welfare framework explicitly recognizes that research protected by intellectual property rights generates monopoly profits, and makes it possible to partition these rents among consumers, farmers, and the innovating input firms. We calculate a total increase in world surplus of $240.3 million for 1996. Of this total, the largest share (59%) went to U.S. farmers. The gene developer… 

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