THE RETURNS TO AGRICULTURAL RESEARCH IN MAINE: THE CASE OF A SMALL NORTHEASTERN EXPERIMENT STATION
James D. Leiby and
Gregory D. Adams
Northeastern Journal of Agricultural and Resource Economics, 1991, vol. 20, issue 1, 14
Estimates of the marginal internal rate of return to expenditures for research by the Maine Agricultural Experiment Station are presented. Estimates are performed using ridge regression under an array of specifications, including alternative functional forms, lag structures, costs of public funds, and variable specifications. The results are consistent with many previous results that imply an underinvestment in agricultural research.
Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
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