Economics of biotechnology / T.V.S. Ramamohan Rao.

Includes bibliographical references (pages 165-178) and index.

Chapter 1: Introduction -- 1.1. Changing Technology -- 1.2. Modern Biotechnology -- 1.3. Organizational Issues -- 1.4. Patents and IPRs -- 1.5. Market Structure -- 1.6. Ethical and Environmental Concerns -- 1.7. Government Policy -- 1.8. Looking Ahead -- Chapter 2: Organizational Structure -- 2.1. The Scope -- 2.2. Knowledge Intensity -- 2.3. Biotechnology Knowledge -- 2.4. Network Organization -- 2.5. Nature of Contracts -- 2.6. Sharing Fixed Costs -- 2.7. Economic Consequences -- 2.8. Other Aspects -- Chapter 3: IPRs and Patents -- 3.1. Why Protection? -- 3.2. Patents as Protection -- 3.3. Biotechnology Patents -- 3.4. IPR Agreements -- 3.5. TRIPS Agreement -- 3.6. Consequences of Protection -- 3.7. Issues of Concern -- 3.8. Modifications to Patent Regime -- Chapter 4: Investment and Financing -- 4.1. The Issues -- 4.2. Role of Public Investment -- 4.3. R & D in Scientific Knowledge -- 4.4. Risks of R & D -- 4.5. Complementary R & D -- 4.6. Agricultural Extension Services -- 4.7. Bioprocessing -- 4.8. Physical Capital -- 4.9. Financing Constraints -- 4.10. Further Considerations -- Chapter 5: Demand, Cost and Productivity -- 5.1. The Background -- 5.2. Patterns of Demand -- 5.3. Productivity -- 5.4. Variable Costs -- 5.5. Welfare Effects -- 5.6. Summing Up -- Chapter 6: Market Structure and Pricing -- 6.1. Nature of Markets -- 6.2. Defining Market Concentration -- 6.3. Sources of Concentration -- 6.4. Monopoly Power and Pricing -- 6.5. Differential Pricing -- 6.6. Dynamic Pricing -- 6.7. In Retrospect -- Chapter 7: Ethics and Environment -- 7.1. Issues at Stake -- 7.2. Ethical Issues -- 7.3. Environmental Issues -- 7.4. Ethical Issues in Agricultural Biotechnology -- 7.5. Ethical Issues in Drug Development -- 7.6. Environmental Issues -- 7.7. International Conventions -- 7.8. Lessons and Control -- Chapter 8: Government Policy -- 8.1. An Overview -- 8.2. Scientific R & D -- 8.3. Scientist vs. NBF Contract -- Chapter 9: Conclusion -- 9.1. The Technology -- 9.2. Organizational Aspects -- 9.3. Product Profiles and Markets -- 9.4. Negative effects -- 9.5. Steady State -- Appendices: Appendix 1, Technical Terms ; Appendix 2, Economic Concepts ; Appendix 3, Mathematical Background.

About the Book: Modern biotechnology has come into prominence since 1980. It relates to a set of techniques that involve manipulation or change of the genetic inheritance of living organisms including plants. The primary advantage of this technology is that it can target drugs and pesticides to the exact location of the human body or plants where they are needed. The cost of application as well as the side effects can be minimized if this technology is utilized. It is also advantageous in so far as random trials on chemicals to develop drugs and hit and fail methods of conventional plant breeding can be avoided. Economics of Biotechnology deals with the organizational mechanisms to accelerate developments in biotechnology, the patents and IPRs necessary to obtain the requisite R & D and compensate the entrepreneurs, and the emerging markets for products of biotechnology and their pricing. It also deals with the implications of modern biotechnology for biodiversity and biosafety and the enabling and regulatory role of the government in its development. Thus the book makes an attempt to introduce the reader to the economics underlying what promises to be the technology of the 21st century. Contents: Organizational Structure IPRs and Patents Investment and Financing Demand, Cost, and Productivity Market Structure and Pricing Ethics and Environment Government Policy Conclusion.

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