The purpose of this research was to reexamine past estimates of the rates of return to food and agricultural R&D in light of the MIRR to see if a similar pattern emerges across the literature. Specific objectives included:
•Assemble a comprehensive database of estimates of the rate of return to food and agricultural R&D.
•Use the information available from past studies to estimate the MIRR when feasible.
•Compare the IRR and MIRR estimates under alternative assumptions regarding the reinvestment rate.