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Market Structure In Biotechnology: Implications For Long-Run Comparative Advantage

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  • Lavoie, Brian F.
  • Sheldon, Ian M.

Abstract

A country specializing in a high technology industry may find that excess returns stemming from innovation are reallocated overseas as foreign-based multinationals access ongoing domestic R&D through alliances with or acquisition of established domestic start-ups. Computer simulation illustrates this process in the context of the current US specialization in biotechnology.

Suggested Citation

  • Lavoie, Brian F. & Sheldon, Ian M., 2000. "Market Structure In Biotechnology: Implications For Long-Run Comparative Advantage," 2000 Annual meeting, July 30-August 2, Tampa, FL 21835, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea00:21835
    DOI: 10.22004/ag.econ.21835
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    References listed on IDEAS

    as
    1. Pindyck, Robert S., 1993. "Investments of uncertain cost," Journal of Financial Economics, Elsevier, vol. 34(1), pages 53-76, August.
    2. Brian F. Lavoie & Ian M. Sheldon, 2000. "The source of comparative advantage in the biotechnology industry: A real options approach," Agribusiness, John Wiley & Sons, Ltd., vol. 16(1), pages 56-67.
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    Cited by:

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