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Persistent Underinvestment in Public Agricultural Research

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  • James F. Oehmke

Abstract

It is often argued that public support of agricultural research is inadequate. However, the empirical papers that support this hypothesis rarely reflect formal behavioral theory capable of explaining this phenomenon. This paper presents a theory that explains underfunding, namely, that funding agencies respond too slowly to secular changes in the value of research. A model of farmer and funding agency behavior is presented, and shown to imply that actual research funding will be consistently smaller than optimal funding. The assumptions and results of the model are explained in terms of the institutional literature on public agricultural research agencies.

Suggested Citation

  • James F. Oehmke, 1986. "Persistent Underinvestment in Public Agricultural Research," Agricultural Economics, International Association of Agricultural Economists, vol. 1(1), pages 53-65, December.
    • Handle: RePEc:bla:agecon:v:1:y:1986:i:1:p:53-65
    DOI: 10.1111/j.1574-0862.1986.tb00005.x
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    Cited by:

    1. James F. Oehmke, 2017. "Re‐Examining the Reported Rates of Return to Food and Agricultural Research and Development: Comment," American Journal of Agricultural Economics, John Wiley & Sons, vol. 99(3), pages 818-826, April.
    2. Roseboom, Johannes, 2002. "A New Perspective On Underinvestment In Agricultural R&D," 2002 Annual meeting, July 28-31, Long Beach, CA 19648, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

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