Multimarket exploitation: the case of biotechnology and chemicals
Biotechnology enables rapid development of products with specific characteristics. We show that those who control the direction of biotechnology development influence the resulting industry structure. Through multimarket exploitation, chemical companies develop biotechnology that increases dependenc...
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| Veröffentlicht in: | American journal of agricultural economics 1993-11, Vol.75 (4), p.936-945 |
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| container_end_page | 945 |
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| container_issue | 4 |
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| container_title | American journal of agricultural economics |
| container_volume | 75 |
| creator | Just, Richard E. Hueth, Darrell L. |
| description | Biotechnology enables rapid development of products with specific characteristics. We show that those who control the direction of biotechnology development influence the resulting industry structure. Through multimarket exploitation, chemical companies develop biotechnology that increases dependence on chemicals, whereas nonchemical companies tend toward development of biotechnology that substitutes for chemicals. Chemical companies tend to both underinvest and underproduce. Conversely, firms without vested chemical interests tend to overinvest and overproduce-even with monopoly-enabling patents. Results show how the consequent industry structure can be affected by choice of agricultural policy |
| doi_str_mv | 10.2307/1243981 |
| format | Article |
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We show that those who control the direction of biotechnology development influence the resulting industry structure. Through multimarket exploitation, chemical companies develop biotechnology that increases dependence on chemicals, whereas nonchemical companies tend toward development of biotechnology that substitutes for chemicals. Chemical companies tend to both underinvest and underproduce. Conversely, firms without vested chemical interests tend to overinvest and overproduce-even with monopoly-enabling patents. 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| ispartof | American journal of agricultural economics, 1993-11, Vol.75 (4), p.936-945 |
| issn | 0002-9092 1467-8276 |
| language | eng |
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| source | Oxford University Press Journals Digital Archive Legacy; Periodicals Index Online; EBSCOhost Business Source Complete; Jstor Complete Legacy; EZB-FREE-00999 freely available EZB journals |
| subjects | Agricultural economics Agricultural policy Agriculture BIOTECHNOLOGIE Biotechnology BIOTECNOLOGIA Business structures CAMBIO SOCIAL CHANGEMENT SOCIAL Chemical industry Chemicals Chemicals industries DEMANDA DEMANDE Economic models Economies of scope ELASTICIDAD DE LOS PRECIOS ELASTICITE DES PRIX Elasticity of demand Industrial chemistry Industrial market Industrial production Industrial products industry structure MARCHE MERCADOS MODELE MATHEMATIQUE MODELOS MATEMATICOS PRODUCCION PRODUCTION PRODUCTOS QUIMICOS AGRICOLAS PRODUIT AGROCHIMIQUE Q160 TEORIAS ECONOMICAS THEORIE ECONOMIQUE |
| title | Multimarket exploitation: the case of biotechnology and chemicals |
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