Welfare Impacts of Intellectual Property Protection in the Seed Industry
研究种子行业不同知识产权保护制度对福利的影响，发现最优保护水平高于美国种子玉米市场现状，但低于基因限制技术能达到的水平。
We examine the welfare impact of different intellectual property protection (IPP) regimes in private sector seed research and development (R&D). We take into account the period after expiration of legal IPP, and require simultaneous equilibrium in markets for R&D, seeds, and final product. Optimal IPP is remarkably insensitive to alternative parameterizations, except for R&D productivity. Results suggest that optimal IPP is greater than IPP in the U.S. seed corn market, but lower than the IPP that could be attained with genetic use restriction technologies. Optimal IPP is much higher than IPP achieved under open‐pollinated crops or where legal IPP is limited.