The objective of this study is to analyze technical change and the role of research and development (R&D) spillovers in this process for the U.S. agricultural sector. This study is composed of both a theoretical and an empirical analysis. In the theoretical analysis, a quality innovation model...

Economic theorists for years have considered the possibility that the direction of technical change is altered by changes in relative prices. Prices have also been identified as one of the determinants of technical change through innovation. This paper extends the theory of the firm to cover...