The Maximum Incremental Social Tolerable Irreversible Costs (MISTICs) and other Benefits and Costs of Introducing Transgenic Maize in the EU-15.

The decision to release a new transgenic crop variety for planting in the European Union is a decision under irreversibility and uncertainty. As the decision can also be postponed there exists some flexibility about the timing of the decision. We use a real option model to assess the ex-ante incremental benefits and costs of the decision to release Bt maize and ht-maize in the EU-15 member states.

Wesseler, Justus, Sara Scatasta and Eleonora Nillesen (2007), The Maximum Incremental Social Tolerable Irreversible Costs (MISTICs) and other Benefits and Costs of Introducing Transgenic Maize in the EU-15. , Pedobiologia 51(30) , 261-269