Research Benefits Revisited
This paper explains why various formulae used in the literature to calculate level and distribution of annual research benefits yield different results. After reviewing the differences in assumptions used by different authors to develop their respective formulae, the paper concludes by presenting alternative formulae which are more generally applicable than those previously available.
Volume (Year): 45 (1977)
Issue (Month): 04 (December)
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- Zvi Griliches, 1958. "Research Costs and Social Returns: Hybrid Corn and Related Innovations," Journal of Political Economy, University of Chicago Press, vol. 66, pages 419.
- Willis L. Peterson, 1967. "Return to Poultry Research in the United States," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(3), pages 656-669.
- Duncan, R & Tisdell, Clem, 1971. "Research and Technical Progress: The Returns to Producers," The Economic Record, The Economic Society of Australia, vol. 47(117), pages 124-29, March.
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