Assistant Professor Guanming Shi, Agricultural & Applied Economics and member of INSITE, will discuss her research into the nature of competition for biotech and conventional corn seed and the effects of that competition on pricing on Tuesday, November 18, 2008 at 3:30 PM in Grainger 1180.
Shi investigates the practice of bundle pricing under conditions of imperfect competition. In multiproduct marketplaces, the possibility of substitution and the complementarity of different products can affect pricing in complex and unexpected ways. This analysis of the U.S. corn seed market investigates the pricing of conventional seeds and patented biotech seeds. For bundles of biotech seeds, it finds strong evidence that standard component pricing is inadequate for understanding what happens in this innovative, hi-tech industry. The econometric results document how increases in traditional and cross-market measures of imperfect competition contribute to higher seed prices.
This INSITE seminar is one of many events being held at UW-Madison in celebration of Global Entrepreneurship Week. For details on other campus entrepreneurship happenings, please visit Wiscontrepreneur.
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