This project is motivated by the evolving nature of agricultural R&D in the United States and other nations. In many developed nations, the share of GDP devoted to agricultural R&D has declined in the last three decades. At the same time, surveys of the voluminous literature on the return to such R&D suggest that this return may have trended down over time. This project will support a suite of new research studies on agricultural research, innovation, and policies aimed at encouraging new advances in this field. The research will be presented at a capstone research conference.