@article{Fox:172486,
      recid = {172486},
      author = {Fox, Glenn and Haque, A. K. Enamul},
      title = {A test of the underinvestment, myopia and commodity bias  hypotheses for U.S. agricultural research},
      journal = {Agricultural Economics: The Journal of the International  Association of Agricultural Economists},
      address = {1990-12},
      number = {968-2016-75422},
      pages = {20},
      year = {1990},
      abstract = {Analysts of agricultural research policy in the United  States of America have claimed that the overall
level of  public investment in agricultural research is less than  what would be socially optimal, that
the present  composition of public research investment is excessively  myopic in that too little basic
research is performed  relative to the level of applied research, and that the  allocation of research
resources among commodities is  inconsistent with economic efficiency.
A non-linear optimal  growth model of the U.S. economy was developed to analyse  these propositions.
Strong support was found for the claim  that the overall level of investment has been  inadequate.
No support was found for the contention that  basic research has been relatively underfunded compared
to  applied research. Weak support was found for the view that  crop research has suffered from
more acute underfunding  than has livestock research.},
      url = {http://ageconsearch.umn.edu/record/172486},
      doi = {https://doi.org/10.22004/ag.econ.172486},
}