Economic Valuation of GM Technology:A Literature Review

Genetically modified (GM) technology has been part of the agricultural landscape for more than 20 years and has now been adopted on more than 181 million hectares (ha) in both developed countries (47%) and developing countries (53%). This paper is a review of existing literature on economic valuation of GM technology, focusing on the first generation GM varieties. Valuations at the micro and aggregate level are discussed with respect to specific parameter values, and other aspects such as environmental and regulation concerns were identified that can be included in further research so as to ensure more comprehensive results of the economic valuation of the GM technology.