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PREFERRED PRICE PATHS OF BIOTECHNOLOGY-DERIVED PRODUCTS: TIME AND PORTFOLIO AFFECTS

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9.PDF Transitions in Agbiotech: Economics of Strategy and Policy EDITED BY William H. Lesser Proceedings of NE-165 Conference June 24-25, 1999 Washington, D.C. Including papers presented at the: International Consortium on Agricultural Biotechnology Research Conference June 17-19, 1999 Rome Tor Vergata, Italy © 2000 Food Marketing Policy Center Department of Agricultural and Resource Economics University of Connecticut and Department of Resource Economics University of Massachusetts, Amherst PART TWO: Industry Issues 9. Preferred Price Paths of Biotechnology-Derived Products: Time and Portfolio Affects Annie Kinwa-Muzinga and Michael A. Mazzocco Preferred Price Paths of Biotechnology-Derived Products: Time and Portfolio Affects Annie Kinwa-Muzinga Michael A. Mazzocco Department of Agricultural and Consumer Economics University of Illinois, Urbana-Champaign Copyright © 2000 by Food Marketing Policy Center, University of Connecticut. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. 175 Chapter 9 Preferred Price Paths of Biotechnology-Derived Products: Time and Portfolio Affects Annie Kinwa-Muzinga and Michael A. Mazzocco1 Introduction The pressures of a changing business environment have resulted in new rules for strategic price decisions in the food and agribusiness sector. The proliferation of biotechnology methods results in an increasing rate of innovation and new product introduction. New products, once introduced, are rapidly replaced by competitive inno- vation, making obsolete the existing products and requiring the introduction of new or modified ones (Cooper 1993). While not predicted with certainty, one of the indirect affects is to shorten the product life cycle of biotechn

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