IDEAS home Printed from https://ideas.repec.org/p/ags/aare13/152169.html
   My bibliography  Save this paper

Pragmatic Selection of R,D&E Investments in Primary Industries

Author

Listed:
  • McClintock, Anthea
  • Malcolm, Bill
  • Crean, Jason
  • Jackson, Tom
  • Heath, James

Abstract

Information deficiencies make selecting investments in R,D & E projects a difficult and uncertain task. Gardner (2004) likened the challenges and uncertainties of choosing the right mix of R,D&E projects to that of recruiting football players or breeding racehorses. In this paper approaches are examined to improving the odds of selecting, from a myriad of choices, more of the investments that are likely to deliver sound economic, social and environmental outcomes in primary industries. Pragmatism rules. The approaches proposed are a pragmatic way of evaluating R,D&E investment opportunities ex ante under the conditions where research opportunities are almost unlimited and budgets limited and falling.

Suggested Citation

  • McClintock, Anthea & Malcolm, Bill & Crean, Jason & Jackson, Tom & Heath, James, 2013. "Pragmatic Selection of R,D&E Investments in Primary Industries," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152169, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare13:152169
    DOI: 10.22004/ag.econ.152169
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/152169/files/CP%20McClintock.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.152169?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Bruce L. Gardner, 1997. "Measuring the Benefits of Agricultural Economics Research: Discussion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(5), pages 1551-1553.
    2. Malcolm, Bill, 2009. "Managing Uncertainty Pragmatically in Private and Public Decision-making about Investment," Papers 234190, University of Melbourne, Melbourne School of Land and Environment.
    3. Commission, Productivity, 2011. "Rural Research and Development Corporations," Inquiry Reports, Productivity Commission, Government of Australia, number 52, July.
    4. John D. Mullen & Thomas L. Cox, 1995. "The Returns From Research In Australian Broadacre Agriculture," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 39(2), pages 105-128, August.
    5. Mullen, John D. & Cox, Thomas L., 1995. "The Returns From Research In Australian Broadacre Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 39(2), pages 1-24, August.
    6. Productivity Commission, 2007. "Public Support for Science and Innovation," Research Reports, Productivity Commission, Government of Australia, number 24, July.
    7. Deborah A. Cobb‐Clark & Thomas Crossley, 2003. "Econometrics for Evaluations: An Introduction to Recent Developments," The Economic Record, The Economic Society of Australia, vol. 79(247), pages 491-511, December.
    8. Paul J. Gertler & Sebastian Martinez & Patrick Premand & Laura B. Rawlings & Christel M. J. Vermeersch, . "Impact Evaluation in Practice, First Edition [La evaluación de impacto en la práctica]," World Bank Publications - Books, The World Bank Group, number 2550.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mullen, John & Keogh, Mick, 2013. "The Future Productivity and Competitiveness Challenge for Australian Agriculture," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152170, Australian Agricultural and Resource Economics Society.
    2. Cox, Thomas L. & Mullen, John D. & Hu, Wensheng, 1996. "Nonparametric Measures Of The Impacts Of Public Research Expenditures On Australian Broadacre Agriculture: Preliminary Results," Staff Papers 12656, University of Wisconsin-Madison, Department of Agricultural and Applied Economics.
    3. Ruhul A. Salim & Nazrul Islam, 2010. "Exploring the impact of R&D and climate change on agricultural productivity growth: the case of Western Australia ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(4), pages 561-582, October.
    4. Wittwer, Glyn & Banerjee, Onil, 2015. "Investing in irrigation development in North West Queensland, Australia," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 59(2), April.
    5. Griffith, Garry R. & Parnell, Peter F. & McKiernan, William A., 2005. "The Economic, Environmental and Social Benefits to NSW from Investment in the CRC for Beef Genetics Technologies," Research Reports 42654, New South Wales Department of Primary Industries Research Economists.
    6. Katherine Wynn & Mingji Liu & Jasmine Cohen, 2022. "Quantifying the economy‐wide returns to innovation for Australia," Australian Economic Papers, Wiley Blackwell, vol. 61(3), pages 591-614, September.
    7. Mullen, John D. & Cox, Thomas L., 1996. "Measuring Productivity Growth In Australian Broadacre Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(3), pages 1-22, December.
    8. Thomas COX & John MULLEN & Wensheng HU, 1996. "Nonparametric Measures Of The Impacts Of Public Research Expenditures On Australian Broadacre Agriculture: Preliminary Results," Staff Papers 399, University of Wisconsin Madison, AAE.
    9. Kym Anderson, 2023. "Why did agriculture’s share of Australian GDP not decline for a century?," Departmental Working Papers 2023-09, The Australian National University, Arndt-Corden Department of Economics.
    10. Binenbaum, Eran & Mullen, John D. & Wang, Chang Tao, 2008. "Has the Return on Australian Public Investment in Agricultural Research Changed?," 2008 Conference (52nd), February 5-8, 2008, Canberra, Australia 6016, Australian Agricultural and Resource Economics Society.
    11. Griffith, Garry R., 2009. "Estimating the economic impact of a major beef industry research and development investment," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 17, pages 1-24.
    12. Mullen, J. D., 2002. "Farm Management In The 21st Century," 2002 Conference (46th), February 13-15, 2002, Canberra, Australia 174072, Australian Agricultural and Resource Economics Society.
    13. Mullen, John D., 2010. "Trends in investment in agricultural R&D in Australia and its potential contribution to productivity," Australasian Agribusiness Review, University of Melbourne, Department of Agriculture and Food Systems, vol. 18, pages 1-12.
    14. Garcia-Alvarez-Coque, J.-M. & Gharsi, O. & Martinez-Gomez, V. & Roig-Tierno, N., 2018. "Determinant Factors of High Performing Agricultural Regions," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277456, International Association of Agricultural Economists.
    15. THOMAS COX & John Mullen & Wensheng Hu, 1996. "Nonparametric Measures of the Impacts of Public Research Expenditures on Australian Broadacre Agriculture: Preliminary Results," Wisconsin-Madison Agricultural and Applied Economics Staff Papers 399, Wisconsin-Madison Agricultural and Applied Economics Department.
    16. Mullen, John D., 2012. "Public investment in agricultural research and development in Australia remains a sensible policy option," AFBM Journal, Australasian Farm Business Management Network, vol. 8(2), pages 1-11, April.
    17. Julia Hall & Grant M Scobie, 2006. "The Role of R&D in Productivity Growth: The Case of Agriculture in New Zealand: 1927 to 2001," Treasury Working Paper Series 06/01, New Zealand Treasury.
    18. Mullen, John D., 1996. "Why Economists and Scientists Find Cooperation Costly," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 64(02), pages 1-9, August.
    19. Kym Anderson, 2022. "Structural transformation in growing open economies: Australia’s experience," Departmental Working Papers 2022-13, The Australian National University, Arndt-Corden Department of Economics.
    20. Zhao, Xueyan & Griffith, Garry R. & Mullen, John D., 2000. "Returns to New Technologies in the Australian Beef Industry: On-farm Research versus Off-farm Research," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 123749, Australian Agricultural and Resource Economics Society.

    More about this item

    Keywords

    Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aare13:152169. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.