Response to an Asymmetric Demand for Attributes: An Application to the Market for Genetically Modified Crops
建立了一个分析框架，研究转基因作物引入对价格和福利的影响。短期非转基因谷物成为利基产品，长期消费者和生产者福利通常增加，但部分群体受损。
A framework is developed for examining the price and welfare effects of the introduction of genetically modified (GM) crops. In the short run, non-GM grain generally becomes another niche product. However, more profound market effects are observed under some reasonable parameterizations. In the long run, consumer and producer welfare are usually greater after the introduction of GM technology. Nevertheless, in all instances some consumers and some producers lose. When identity preservation is expensive and cost savings are relatively small, both producer and consumer welfare are lower after introducing GM technology. Interestingly, this outcome is obtained even though all agents are individually rational.