Genetic modification and yield risk: a stochastic dominance analysis of corn in the USA

Production risk has been ignored in most of the analysis of GM technology, which has mostly focused on its effects on mean yield. We use stochastic dominance to quantify the effect of GM traits on the entire distribution of yields in corn in the USA under a wide range of growing conditions. Although no GM hybrid outperforms conventional hybrids under all growing conditions, we present evidence that most GM hybrids can be considered as improvements of the yield distribution.