Pragmatic Selection of R,D&E Investments in Primary Industries

Anthea McClintock, Bill Malcolm, Jason Crean, Tom Jackson and James Heath

No 152169, 2013 Conference (57th), February 5-8, 2013, Sydney, Australia from Australian Agricultural and Resource Economics Society

Abstract: Information deficiencies make selecting investments in R,D & E projects a difficult and uncertain task. Gardner (2004) likened the challenges and uncertainties of choosing the right mix of R,D&E projects to that of recruiting football players or breeding racehorses. In this paper approaches are examined to improving the odds of selecting, from a myriad of choices, more of the investments that are likely to deliver sound economic, social and environmental outcomes in primary industries. Pragmatism rules. The approaches proposed are a pragmatic way of evaluating R,D&E investment opportunities ex ante under the conditions where research opportunities are almost unlimited and budgets limited and falling.

Keywords: Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 27
Date: 2013-02
New Economics Papers: this item is included in nep-ino and nep-ppm
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare13:152169

DOI: 10.22004/ag.econ.152169

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