Strategic Behavior and Consolidation in the Agricultural Biotechnology Industry
构建了一个模型来解释农业生物技术产业的整合模式，考虑了合作与许可协议、合资、收购、所有权交换和分拆等机制，并分析了四大企业的合作与整合活动。
Abstract We develop a model explaining the consolidation patterns in the agricultural biotechnology industry. Among different consolidation and cooperation mechanisms, we consider collaborative and licensing agreements, joint ventures, acquisitions, and exchanges of ownership and spin‐offs. The key results derive from the benefits of coordinated actions, distinction between transferable and nontransferable payoffs, the substitutability, complementarity, and the importance of the managers' noncontractible investments, and access and expansion of markets. Results from the model are used to examine the cooperation and consolidation activities for four major players in the agricultural biotechnology industry, DuPont, Dow Chemical, Monsanto, and Novartis.