Issues in benefit-cost analysis of agricultural research projects

Graham Marshall and John P. Brennan

Australian Journal of Agricultural and Resource Economics, 2001, vol. 45, issue 2, 19

Abstract: Use of benefit‐cost analysis for economic comparison of agricultural research projects remains confounded, by lack of rigour in specifying the without‐project scenario and how benefits from an innovation endure after its adoption declines. Failure to account for the without‐project scenario favours projects to the extent that more benefits are foregone than costs avoided. Moreover, it is unreasonable to assume generally that aggregate benefits from an innovation continue at the peak level until the end of a 30–40 year planning horizon. A general BCA model for agricultural research projects is presented to enable flexible handling of these issues.

Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
Date: 2001
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)

Downloads: (external link)
https://ageconsearch.umn.edu/record/117389/files/1467-8489.00139.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:117389

DOI: 10.22004/ag.econ.117389

Access Statistics for this article

More articles in Australian Journal of Agricultural and Resource Economics from Australian Agricultural and Resource Economics Society Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().