PUBLIC R&D INVESTMENT FROM PRIVATE AND SOCIAL PERSPECTIVE. AN APPLICATION TO ITALIAN AGRICULTURE, 1960-1995
| dc.creator | Esposti, Roberto | |
| dc.creator | Pierani, Pierpaolo | |
| dc.date | 2017-04-01T19:29:41Z | |
| dc.date.accessioned | 2026-07-09T03:52:35Z | |
| dc.description | Public R&D stock is considered as quasi-fixed input in a variable cost function. Its shadow price allows to measure the long run optimal level thus explicitly assessing the hypothesis of under (over) investment. Two alternative R&D prices are defined depending on whether the social or private (farmers) view prevails. The results under these alternatives provide evidence on the hypothesis that free-riding on public R&D explain overinvestment. The application to the Italian agriculture (1960-1995) suggests overinvestment in public research since the late seventies with a significant difference between the social and private optimal R&D, the former being much closer to the observed level. | |
| dc.identifier | doi:10.22004/ag.econ.25876 | |
| dc.identifier | https://ageconsearch.umn.edu/record/25876/files/cp03es01.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/25876 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/541290 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/25876 | |
| dc.title | PUBLIC R&D INVESTMENT FROM PRIVATE AND SOCIAL PERSPECTIVE. AN APPLICATION TO ITALIAN AGRICULTURE, 1960-1995 | |
| dc.type | Text |