The Economics of Biotechnology is a highly accessible book dealing with some of the most crucial issues to arise in this area. Special attention is paid to consumer, ethical and environmental concerns as well as questions relating to trade policy, intellectual property, who will receive the benefits, international development and the role of international institutions such as the WTO.
The authors examine concerns arising from the application of biotechnology in the agri-food industrial complex, and many of the issues discussed also have implications for the medical and pharmaceutical aspects of biotechnology.
Fundamental questions regarding the application of standard economic analysis to biotechnology are resolved using traditional neo-classical analyses as well as less mainstream methods. Through exploring a number of approaches, original and unexpected conclusions are reached.
This coherent and relevant treatment of the myriad facets of biotechnology will be welcomed by academics, scholars, and economists with a specific interest in international economics or technology, international policymakers, and economic commentators.