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• W1552374902 abstract "Public R&D stock is considered as quasi-fixed input in a variable cost function. Its shadow price allows to measure the long run optimal level thus explicitly assessing the hypothesis of under (over) investment. Two alternative R&D prices are defined depending on whether the social or private (farmers) view prevails. The results under these alternatives provide evidence on the hypothesis that free-riding on public R&D explain overinvestment. The application to the Italian agriculture (1960-1995) suggests overinvestment in public research since the late seventies with a significant difference between the social and private optimal R&D, the former being much closer to the observed level." @default.
• W1552374902 created "2016-06-24" @default.
• W1552374902 creator A5000412347 @default.
• W1552374902 creator A5037347463 @default.
• W1552374902 date "2003-01-01" @default.
• W1552374902 modified "2023-09-27" @default.
• W1552374902 title "PUBLIC R&D INVESTMENT FROM PRIVATE AND SOCIAL PERSPECTIVE. AN APPLICATION TO ITALIAN AGRICULTURE, 1960-1995" @default.
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• W1552374902 hasPublicationYear "2003" @default.
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