Synthetic Biology and Risk Regulation: The Case of Singapore

Trump, Benjamin D.; Siharulidze, George; Cummings, Christopher

doi:10.1007/978-3-030-27264-7_13

Cited by 3 publications

(1 citation statement)

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“…If successful, nations less willing to engage in early technology development risk becoming “captured” by the market capabilities of others ( Wu et al, 2010 ; Adenle, 2011 ; Yrjola, et al, 2022 ). Subsequently, the divergence between a small number of early adopters and a larger body of risk averse nations will worsen the technology pacing problem, whereby the accelerating growth of innovation in the biotechnology space outstrips established best practices for environmental health and safety assessment as well as regulatory practices ( Marchant et al, 2011 ; Fenwick et al, 2017 ; Trump et al, 2020 ). Closing this gap is no simple task—compelling suis generis hard law across the international landscape is doomed to clash against prevailing political and institutional debates and regulatory instruments.…”

Section: Why Is Technology Divergence Worsening For Biotechnology?mentioning

confidence: 99%

The worsening divergence of biotechnology: the importance of risk culture

Trump,

Cummings,

Loschin

et al. 2023

Front. Bioeng. Biotechnol.

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In the last 20 years, the field of biotechnology has made significant progress and attracted substantial investments, leading to different paths of technological modernization among nations. As a result, there is now an international divide in the commercial and intellectual capabilities of biotechnology, and the implications of this divergence are not well understood. This raises important questions about why global actors are motivated to participate in biotechnology modernization, the challenges they face in achieving their goals, and the possible future direction of global biotechnology development. Using the framework of prospect theory, this paper explores the role of risk culture as a fundamental factor contributing to this divergence. It aims to assess the risks and benefits associated with the early adoption of biotechnology and the regulatory frameworks that shape the development and acceptance of biotechnological innovations. By doing so, it provides valuable insights into the future of biotechnology development and its potential impact on the global landscape.

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