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section15_brian - 1 Section Notes Week 15 Outline Key...

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1 Section Notes Week 15 Outline Key Concepts Overview: PSs, MT, Section Notes Resistance Biotech and Precaution Integrated Pest Management (IPM) Pesticide Resistance and Value Delphi Method Evaluations Cost-budgeting Method Biotech There are three components of biotech that we covered in class: (1) Biotech can be a method of pest control, though matters how local-specific the variety is. (2) Intellectual Property Rights (IPR) impede the (optimal) dispersion of technology. (3) Risks of GMO fallout are great, but can be managed. GMO pest control GMOs are of course designed for multiple purposes, but ultimately make the crop more efficient and reduce the need of one or more inputs: engineered crops can reduce need for irrigation, the need for fertilizer, and/or the need for pesticides. In this respect the problem has an element of tech adoption (indeed, recall that the tech adoption problem on the midterm was GM cotton and fertilizer use). Since technological adoption was something that was covered more in respect to drainage problems and water use, David chose to focus his biotech more on pest control dimensions. Recall the yield function, where Q is potential output and D is damage: Y = Q · [1 - D ] A generic GMO (that is one that is designed for global use) will have lower potential output and/or higher damage than one that is tailored to environmental conditions like a GM crop using local varieties. Intellectual Property Rights (i.e. patents, copyrights, trade secrets, etc.) Despite the potential virtues of GM crops, especially for many regions facing huge challenges with respect to water shortages and pest control, not many farmers are going to be willing to pay the prices that the biotech firms want to charge for their products. In a related issue that somewhat follows,
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