Agricultural Biotechnology's Complementary Intellectual Assets

Posted: 16 May 2002

See all articles by Gregory D. Graff

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

affiliation not provided to SSRN

Multiple version iconThere are 2 versions of this paper

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 Classification: O32, Q16, L22

Suggested Citation

Graff, Gregory D. and Rausser, Gordon C. and Small, Arthur A., Agricultural Biotechnology's Complementary Intellectual Assets. Review of Economics and Statistics, Vol. 85, Iss. 2, May 2003. Available at SSRN: https://ssrn.com/abstract=306600

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

affiliation not provided to SSRN

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