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A Stochastic Model of Applied Research
A mathematical model of applied research is formulated. It views applied research as a search in a given distribution; basic research shifts the distribution searched. The productivity of applied research effort is a function of the gap between technology in practice and basic knowledge. With constant basic and applied research a (stochastic) steady state emerges in which technological change is determined by the rate of progress of basic knowledge, and the technological gap by the level of applied research.
A Stochastic Model of Applied Research
A mathematical model of applied research is formulated. It views applied research as a search in a given distribution; basic research shifts the distribution searched. The productivity of applied research effort is a function of the gap between technology in practice and basic knowledge. With constant basic and applied research a (stochastic) steady state emerges in which technological change is determined by the rate of progress of basic knowledge, and the technological gap by the level of applied research.
Research and Productivity in Wheat and Maize
A measure of agricultural research output in 75 wheat- and maize-growing countries was utilized to explain increases in yield per unit land in these crops over the period 1948-68. Several alternative specifications were tried, incorporating direct contribution of indigenous research as well as "borrowing" of outside knowledge. Statistical estimates are presented and their economic implications discussed.