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In this paper we aim at investigating the price-induced innovation hypothesis in Italian agriculture. We generalize the framework of analysis proposed by Peeters and Surry (2000). The generalization includes a short-run specification of the dual technology as well as a quadratic spline in a time...
Persistent link: https://www.econbiz.de/10004990592
This article deals with the role of public research in Italian agriculture during the period 1960 to 1995. A short-term specification of the GL cost function capable of accommodating quasi-fixed factors and variable returns is employed. Temporary equilibrium and scale economies are investigated...
Persistent link: https://www.econbiz.de/10004990607
The search for an appropriate methodology to analyse the relation between R&D investments and the knowledge stock is the main purpose of the paper. The high estimates of internal rates of return on agricultural R&D reported in the literature suggest that there are major empirical problems with...
Persistent link: https://www.econbiz.de/10004990608
In this paper we aim at investigating the price-induced innovation hypothesis in Italian agriculture. We generalize the framework of analysis proposed by Peeters and Surry (2000). This generalization includes a short-run specification of the dual technology as well as a quadratic spline in a...
Persistent link: https://www.econbiz.de/10005819556
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Persistent link: https://www.econbiz.de/10005057096
The current paper presents a model in which public R&D stock is included as a quasi-fixed input in a variable cost function. Its price affects the long run desired level, while its shadow price indicates whether under (over) investment occurs in the short run. Two alternative R&D prices and -...
Persistent link: https://www.econbiz.de/10005030032
The public R&D capital stock is introduced as a quasi-fixed input in a variable cost function. The relative shadow price allows the correct measurement of the equilibrium levels of quasi-fixed inputs thus explicitly assessing the hypothesis of public R&D under (over) investment. By introducing...
Persistent link: https://www.econbiz.de/10005493686