The Economic Returns to U.S. Public Agricultural Research
| dc.creator | Alston, Julian M. | |
| dc.creator | Andersen, Matthew A. | |
| dc.creator | James, Jennifer S. | |
| dc.creator | Pardey, Philip G. | |
| dc.date | 2017-04-01T19:52:20Z | |
| dc.date.accessioned | 2026-07-09T05:23:07Z | |
| dc.description | We use newly constructed state-specific data to explore the implications of common modeling choices for measures of research returns. Our results indicate that state-to-state spillover effects are important, that the R&D lag is longer than many studies have allowed, and that misspecification can give rise to significant biases. Across states, the average of the own-state benefit-cost ratios is 21:1; or 32:1 when the spillover benefits to other states are included. These ratios correspond to real internal rates of return of 9 or 10 percent per annum, much smaller than those typically reported in the literature, partly because we have corrected for a methodological flaw in computing rates of return. | |
| dc.identifier | doi:10.22004/ag.econ.95522 | |
| dc.identifier | https://ageconsearch.umn.edu/record/95522/files/Staff%20Paper%20P10-8--InSTePP10-04.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/95522 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/562922 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/95522 | |
| dc.title | The Economic Returns to U.S. Public Agricultural Research | |
| dc.type | Text |