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Agricultural Biotechnology's Complementary Intellectual Assets

Gregory D. Graff
University of California, Berkeley - Department of Agricultural & Resource Economics

Gordon C. Rausser
University of California, Berkeley - Department of Agricultural and Resource Economics

ARTHUR A. SMALL III
Pennsylvania State University, Department of Meteorology

August 2001

Abstract:
We formulate and test a hypothesis for the dramatic restructuring that the plant breeding and seed industry has recently undergone: the reorganization can be explained in part by the desire to exploit complementarities between intellectual assets needed to create genetically modified organisms. This hypothesis is tested using data on agricultural biotechnology patents, notices for field tests of genetically modified organisms, and firm characteristics. The presence of complementarities is identified with a positive covariance in the unexplained variation of asset holdings. Results indicate that coordination of complementary assets have increased under the consolidation of the industry.

Keywords: agricultural biotechnology, innovation, patents, complementarities, mergers and acquisitions, industrial organization, market structure, markets vs. hierarchies, technology markets

JEL Classifications: O32, Q16, L22

Working Paper Series

Date posted: August 16, 2001 ; Last revised: August 29, 2001

Suggested Citation

Graff, Gregory D., Rausser, Gordon C. and SMALL, ARTHUR A., Agricultural Biotechnology's Complementary Intellectual Assets (August 2001). Available at SSRN: http://ssrn.com/abstract=280107 or doi:10.2139/ssrn.280107

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Contact Information

Gregory D. Graff (Contact Author) University of California, Berkeley - Department of Agricultural & Resource Economics ( email ) Berkeley, CA 94720 United States 510-643-2313 (Phone) 510-643-8911 (Fax) HOME PAGE: http://are.berkeley.edu/~ggraff
Gordon C. Rausser University of California, Berkeley - Department of Agricultural and Resource Economics ( email ) 207 Giannini Hall no. 3310 Berkeley, CA 94720 United States 510-642-6591 (Phone) 510-643-0287 (Fax) HOME PAGE: http://are.berkeley.edu/~rausser/
ARTHUR A SMALL III Pennsylvania State University, Department of Meteorology ( email ) 503 Walker Building University Park, PA 16802 United States (+1) 814.869.3104 (Phone) (+1) 814.865.3663 (Fax) HOME PAGE: http://www.met.psu.edu/dept/faculty/Small.htm

Abstract

References (31)

Citations (17)

Date posted: August 16, 2001 ; Last revised: August 29, 2001

Suggested Citation

Contact Information

Gregory D. Graff (Contact Author)

Gordon C. Rausser

ARTHUR A SMALL III