Contains "In This Issue" by Gene Wunderlich

The probability-constrained minimum absolute deviations (MAD) estimator appears to be superior to the probability-constrained quadratic programming estimator in estimating transition probabilities with limited aggregate time series data Futhermore, one can reduce the number of columns in the...

Contains "In This Issue" by Gene Wunderlich

Previous work on the rate of return to public agricultural research for the United States has neglected private agricultural research expenditures. This study, which factors in production variables like weather and the shifting health of national economy over a 70-year period (1915-85), does...

Contains "In This Issue" by Gene Wunderlich

The extent to which inflation has eroded the real purchasing power of public agricultural research budgets is poorly understood. Official Government research and development (R&D) statistics use the gross national product (GNP) deflator to express research expenditures in constant dollars,...