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Efficiency effects of agricultural economics research in the United States
Author(s) -
Schimmelpfennig David E.,
O'Donnell Christopher J.,
Norton George W.
Publication year - 2006
Publication title -
agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.29
H-Index - 82
eISSN - 1574-0862
pISSN - 0169-5150
DOI - 10.1111/j.1574-0864.2006.00124.x
Subject(s) - allocative efficiency , stylized fact , economics , extension (predicate logic) , bayesian probability , agriculture , econometrics , microeconomics , agricultural economics , mathematics , statistics , computer science , macroeconomics , ecology , programming language , biology
Allocations of research funds across programs are often made for efficiency reasons. Social science research is shown to have small, lagged but significant effects on U.S. agricultural efficiency when public agricultural R&D and extension are simultaneously taken into account. Farm management and marketing research variables are used to explain variations in estimates of allocative and technical efficiency using a Bayesian approach that incorporates stylized facts concerning lagged research impacts in a way that is less restrictive than popular polynomial distributed lags. Results are reported in terms of means and standard deviations of estimated probability distributions of parameters and long‐run total multipliers. Extension is estimated to have a greater impact on both allocative and technical efficiency than either R&D or social science research.