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| Author: | O'Shea, L. Ulph, A. |
| Title: | The role of pest resistance in biotechnology R&D investment strategy |
| Journal: | Journal of Environmental Economics and Management
2008 : MAR, VOL. 55:2, p. 213-228 |
| Index terms: | r&d innovation bio-technology bio-technology industry investment strategy |
| Freeterms: | pest resistance strategic interaction |
| Language: | eng |
| Abstract: | The purpose of this paper is to describe the linkage between research and development (hereafter as R&D) and market concentration in the biotechnology sector. On average biotechnology industry has made large R&D investments in biotechnology and some time ago there was an intense period of mergers and acquisitions in biotechnology industry. The authors developed a standard game-theoretic model to examine how the pest resistance affects the link between R&D investments and concentration. The finding show that the incumbent will tend to invest less than the entrant under drastic innovation across all three pest regime types (no pest resistance, exogenous pest risk and endogenous pest risk). |
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