Overview
In this paper, the dual approach to ex ante research evaluation in a multiple-input, multiplt-output industry is explained and demonstrated. A simplified, illustrative model is developed based on a number of fundermental characteristics of the Australian wool industry and an input-augmenting technical change. Technical change is an important source of growth for the Australian agricultural sector given the limited funds available for research and development in agriculture, measuring the level and distribution of returns to public- and producer-funded research in a theoretically consistent manner, has become increasingly important.
