Econ Papers Daily / 期刊论文
比较欧盟监管新基因组技术对投资决策的影响
Comparing the effects of regulating new genomic techniques on investment decisions in the European Union
摘要
We examine the economic impact of regulating new genomic techniques on investment decisions in the EU. Using a real options model, we compare five major regulatory options (nine including sub-options) with the status quo and analyse their effects on plant breeders’ investments. Using the current authorization process for genetically modified organisms for NGTs presents a high investment barrier for companies. The findings indicate that all alternative five options offer opportunities to reduce investment hurdles, depending on the design of the authorization process. Our model and its calibration serve as an example for further advancing the application of real options for regulatory policy analysis.
中文摘要
我们研究了欧盟对新基因组技术进行监管对投资决策的经济影响。通过使用实物期权模型，我们比较了五种主要监管方案（含子方案共九种）与现状的差异，并分析了它们对植物育种者投资的影响。将当前转基因生物授权流程应用于新基因组技术，对企业构成了较高的投资门槛。研究结果表明，所有五种替代方案均提供了降低投资障碍的机会，具体效果取决于授权流程的设计。我们的模型及其校准为推进实物期权在监管政策分析中的应用提供了范例。