简介：Giventheexistenceoftransactioncosts,thelocationofpropertyrightsisanimportantfactorindeterminingtheincentivesforefficientlevelsofinvestmentatvariouslevelsoftheindustry.Thispaperappliessomeoftheeconomictheoriesofpropertyrightsandindustrialstructuretotheissuesconcerningtheconservationofbiodiversity.AlthoughtheexpansionofIntellectualPropertyRights(IPR)systemsintotheareaofgeneticresourceshasincreasedprivateinvestmentinR&Dprocessoftheagriculture,itdoesnotgenerateenoughincentivesforinsituconservationofbiodiversity.Tosolvethiseconomicinefficiency,farmers’rightsandotherdesignofincentivesandinstitutionalarrangementshouldbereconsidered.
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