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...

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...

This paper aims at investigating the price-induced innovation hypothesis in Italian agriculture over the years 1951 to 1991. Price-inducement hypothesis is analysed and tested within the framework proposed by Peeters and Surry (2000). The major difference is the short-run specification of the...

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...

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...

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...

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 -...