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Abstract
A wealth of information exists on ex post returns
to research investments for agriculture in
the aggregate and for several agricultural commodity
groups of commercial importance in the
United States. Many of the investments made in
agricultural research and, consequently, many of
the allocative decisions on research funding,
are, however, commodity-specific. Probably the
main reason for the limited empirical literature
on returns to commodity-specific research is that
of the limited production input data available
for individual commodities. Data from the U.S.
Census of Agriculture, for example, do not permit
commodity disaggregation beyond that employed by
Bredahl and Peterson. Their analysis which utilizes
commodity groups including cash crops,
dairy, livestock, and poultry, has been updated
by Norton using 1974 Census data. The research
reported in this paper represents "early stage"
progress in an effort to extend the cross-sectional
production function-type analyses of
Bredahl, Peterson, and Norton to three specific
crops--corn, wheat, and soybeans. The production
functions estimated are for the 1977 crop year.