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| Davis, Jeffrey S.. |
| The objective of this paper is to develop the conceptual linkage between the production function and economic surplus approaches used to evaluate the returns to agricultural research. First it is established that, for the Cobb-Douglas functional form generally used, an increase in research expenditure will result in a pivotal divergent shift in the supply function. It is then shown that the measure of this change in economic surplus is approximately the same as the value marginal product. Finally it is concluded that if the other possible types of supply shifts, that is, proportional divergent, parallel or convergent, are appropriate, then the production function approach will under-estimate the benefits and therefore rate of return to research expenditure. |
| Tipo: Journal Article |
Palavras-chave: Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1981 |
URL: http://purl.umn.edu/12425 |
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| Davis, Jeffrey S.. |
| The production function approach has been one of the two main ex-post procedures used to estimate the rate of return to agricultural research. A critical part of estimating the marginal internal rate of return (MIRR) is the procedure adopted to spread the benefits of research through time. Past studies using this approach have given only brief consideration to this computational procedure. The objective in this study was to review the different computational procedures used and, then, using cross-section production function estimates for U.S. agriculture, determine whether the MIRR estimates are sensitive to the computational procedure used. The results from this comparison indicate a large range in the estimates. The implication, then, is that careful... |
| Tipo: Journal Article |
Palavras-chave: Productivity Analysis; Research and Development/Tech Change/Emerging Technologies. |
| Ano: 1981 |
URL: http://purl.umn.edu/22632 |
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| Davis, Jeffrey S.. |
| In recent years there has been considerable discussion of many aspects of taxation policy, this note attempts to add to this discussion by taking a broader outlook than considering merely those concessions or policies which have been changed. This is done by, firstly, considering some theoretical implications of taxation concessions, and particularly the concept of a "neutral tax" policy. Secondly, by outlining the possible situations when concessions may be justified. Thirdly, by giving a brief summary of the previous taxation concessions, their aims, whether these aims fit into the conditions under two above and their actual effects. Finally, in light of the theoretical considerations summarized in section 2, a brief assessment is given of the impact of... |
| Tipo: Journal Article |
Palavras-chave: Agricultural Finance. |
| Ano: 1974 |
URL: http://purl.umn.edu/9200 |
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