Journal
AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS
Volume 82, Issue 1, Pages 118-132Publisher
AMER AGRICULTURAL ECONOMICS ASSOC
DOI: 10.1111/0002-9092.00010
Keywords
Bt cotton; biotechnology; demand; insecticide policy; revealed preferences; stated preferences; technology adoption
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This article examines the potential demand for Bt cotton in the Southeast from information gathered in the first year of commercialization. We combine revealed preference (RP) data on adoption of Bt cotton varieties with stated preference (SP) data on willingness to adopt to estimate demand using a double-bounded maximum likelihood procedure. Using estimated demand equations, we simulate the costs of reducing conventional insecticide applications through subsidization of Bt cotton Results indicate that reducing cotton insecticide applications by 40% in die Southeast would require a $21/acre subsidy, with total annual program costs between $53 million and $60 million.
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