A great deal of attention has been devoted in the last two decades to assessing the economic consequences of agricultural research. The biotechnology revolution (see, for example, Hueth and Just, 1986; Kalter and Tauer, 1986) may provide a further stimulus to study of the size and distribution of...

In a recent article, Oehmke reported that a high internal rate of return for investment in research when the interaction between research and price policy costs was disregarded could become very low or even negative when the effects of research on the costs of price policy were considered. In...