Add to ORKGThis paper considers irreversible investment in competing research projects with uncertain returns under a winner-takes-all patent system. Uncertainty takes two distinct forms: the technological success of the project is probabilistic, while the economic value of the patent to be won evolves stochastically over time. According to the theory of real options uncertainty generates an option value of delay, but with two competing firms the fear of preemption would appear to undermine this approach. In non-cooperative equilibrium two patterns of investment emerge depending on parameter values.INVESTMENTS ; RESEARCH AND DEVELOPMENT ; COMPETITION
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...
This paper considers irreversible investment in competing research projects with uncertain returns u...
This paper considers irreversible investment in competing research projects with uncertain returns u...
This paper considers irreversible investment in competing research projects with uncertain returns u...
This paper considers irreversible investment in competing research projects with uncertain returns u...
When an irreversible decision is taken under uncertainty there is an option value of delay. If a sm...
In this article we develop a model to analyze patent-protected R&D investment projects when there is...
The thesis consists of three parts. In the first part of the thesis, we analyze preemptive patenting...
R&D is typically characterized by uncertainty about the existence and timing of the innovation (“fun...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolog...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...
This paper considers irreversible investment in competing research projects with uncertain returns u...
This paper considers irreversible investment in competing research projects with uncertain returns u...
This paper considers irreversible investment in competing research projects with uncertain returns u...
This paper considers irreversible investment in competing research projects with uncertain returns u...
When an irreversible decision is taken under uncertainty there is an option value of delay. If a sm...
In this article we develop a model to analyze patent-protected R&D investment projects when there is...
The thesis consists of three parts. In the first part of the thesis, we analyze preemptive patenting...
R&D is typically characterized by uncertainty about the existence and timing of the innovation (“fun...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolog...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This article develops a novel probabilistic approach to evaluate, through an approximation, a patent...
This paper explores the optimal expenditure rate that a firmshould employ to develop a newtechnolo...