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On the balance between strategic-basic and applied agricultural research

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  • Pannell, David J.

Abstract

Strategic‐basic research refers to basic research conducted in strategically selected areas expected to be of social benefit. Recent literature on the processes of basic research and its links to applied research has not been widely discussed in relation to agricultural research. This may have important implications for the question of the optimal allocation of research resources. The links are reviewed and combined into a framework for considering the allocation question. A numerical model suggests that only a small number of the model’s parameters substantially affect the optimal level of basic research, and that it is not important to identify the optimal solution precisely, since the benefit function is extremely flat around the optimum.

Suggested Citation

  • Pannell, David J., 1999. "On the balance between strategic-basic and applied agricultural research," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 43(01), pages 1-23, March.
    • Handle: RePEc:ags:aareaj:117033
    DOI: 10.22004/ag.econ.117033
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    References listed on IDEAS

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    Cited by:

    1. Malla, Stavroula & Gray, Richard S., 2002. "Crop Research Incentives in a Privatized Industry: A Stochastic Approach," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24936, European Association of Agricultural Economists.
    2. Malla, Stavroula & Gray, Richard S., 2001. "An Analytical And Empirical Analysis Of The Private Biotech R&D Incentives," 2001 Annual meeting, August 5-8, Chicago, IL 20544, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    3. Mullen, John D., 2007. "Productivity growth and the returns from public investment in R&D in Australian broadacre agriculture," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 51(4), pages 1-26.
    4. Denzil PILLAY & Brian BARNARD, 2019. "Entrepreneurship and Knowledge Management: Knowledge Requirements, Utility, Creation, and Competency," Expert Journal of Business and Management, Sprint Investify, vol. 7(1), pages 44-81.
    5. Brethour, Cher & Weersink, Alfons, 2003. "Rolling the dice: on-farm benefits of research into reducing pesticide use," Agricultural Systems, Elsevier, vol. 76(2), pages 575-587, May.
    6. Pannell, D. J., 1999. "On the estimation of on-farm benefits of agricultural research," Agricultural Systems, Elsevier, vol. 61(2), pages 123-134, August.
    7. Marshall, Graham R. & Brennan, John P., 2001. "Issues in benefit-cost analysis of agricultural research projects," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(2), pages 1-19.
    8. Brian BARNARD & Derrick HERBST, 2017. "Innovation and Entrepreneurship: The Necessary Conditions of Value Creation," Expert Journal of Business and Management, Sprint Investify, vol. 5(2), pages 98-128.

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