We study herd behavior in a laboratory financial market with financial market professionals. We compare two treatments, one in which the price adjusts to the order flow so that herding should never occur, and one in which event uncertainty makes herding possible. In the first treatment, subjects...

As the world has changed during the past 50 years, so has agriculture. And so has agricultural research, which continues to confront new challenges, from food security to ecological concerns to land use issues. Indeed, as Guy Paillotin, the former president of the French National Institute for...

This report reviews economic concepts of innovation, research and development (R&D), productivity and competitiveness, and their linkages. It then discusses evidence on developments in productivity and competitiveness in the agricultural and food processing sectors and on the relationship...