The Sensitivity of Returns to Research Calculations to Supply Elasticity

Returns to research are thought to be robust under alternative supply elasticity assumptions. We show, both conceptually and numerically, how advances in approximating social benefits make returns to research sensitive to the supply elasticity. Despite this greater sensitivity, these advances retain conceptual and practical advantages. We make recommendations for dealing with the increased sensitivity. Copyright 2002, Oxford University Press.

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Year of publication:	2002
Authors:	Oehmke, James F. ; Crawford, Eric W.
Published in:	American Journal of Agricultural Economics. - Agricultural and Applied Economics Association - AAEA. - Vol. 84.2002, 2, p. 366-369
Publisher:	Agricultural and Applied Economics Association - AAEA

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009397389