Reaping the Returns to Research

Abstract

Historical and recent estimates of the payoffs to agricultural research in the USA are presented. The distribution of research benefits to producers and consumers, farms of different sizes, factors of production, and farms in different regions is discussed. Implications of research for food safety and environmental sustainability are considered. The results indicate continued high rates of return to agricultural research in the aggregate and for most commodity groups. The commodity groups considered are cash grains, vegetables, fruits, other field crops, dairy, poultry, and other livestock (...)