Competition and Dynamics in Market Structure in Corn and Soybean Seed

There has been a sharp increase in planting of genetically modified (“GM”) crops in the past decade and further expansion is expected in the United States as well as other countries, as well as in new crops. Firms in this industry have substantial economies of scale due to the high costs of research and development (“R&D). As a result, there have been many mergers and acquisitions, and there are now fewer firms in some of these func