Publication Cover
The Engineering Economist
A Journal Devoted to the Problems of Capital Investment
Volume 57, 2012 - Issue 1
257
Views
2
CrossRef citations to date
0
Altmetric
ARTICLES

Strategic R&D Investment Under Information Revelation

&
Pages 20-40 | Published online: 29 Feb 2012

References

  • Armada , M. R. , Kryzanowsky , L. and Pereira , P. J. 2007 . A modified finite-lived American exchange option methodology applied to real options valuation . Global Finance Journal , 17 ( 3 ) : 419 – 438 .
  • Boyer , M. , Gravel , E. and Lasserre , P. 2004 . Real options and strategic competition: a survey . Working paper , University of Montreal
  • Carr , P. 1988 . The valuation of sequential exchange opportunities . The Journal of Finance , 43 ( 5 ) : 1235 – 1256 .
  • Carr , P. 1995 . “ The valuation of American exchange options with application to real options ” . In Real options in capital investment: models, strategies and applications , Edited by: Lenos , Trigeorgis . Westport , CT : Praeger .
  • Cassimon , D. 2011 . Compound real option valuation with phase-specific volatility: a multi-phase mobile payments case study . Technovation , 31 ( 5–6 ) : 240 – 255 .
  • Cortelezzi , F. and Marseguerra , G. 2006 . Investimenti irreversibili, interazioni strategiche e opzioni reali: analisi teorica ed applicazioni . Economia Politica , 2 : 265 – 302 .
  • Cortelezzi , F. and Villani , G. 2008 . Strategic technology adoption and market dynamics as option games . The Icfai Journal of Industrial Economics , 5 ( 4 ) : 7 – 27 .
  • Cortelezzi , F. and Villani , G. 2009 . Valuation of R&D sequential exchange options using monte carlo approach . Computational Economics , 33 ( 3 ) : 209 – 236 .
  • Cortelezzi , F. , Giannoccolo , P. and Villani , G. 2011 . Strategic urban development under uncertainty . The IUP Journal of Financial Economics , in press
  • Dias , M.A. G. 2004 . Valuation of exploration and production assets: An overview of real options models . Journal of Petroleum Science and Engineering , 44 : 93 – 114 .
  • Dias , M.A. G. and Teixeira , J. P. 2004 . Continuous-time option games part 2: Oligopoly, war of attrition and bargaining under uncertainty . Working paper , Dept. of Industrial Eng., PUC-Rio, presented at the 8th Annual International Conference on Real Options, Montreal, June 2004
  • Eschenbach , T. G. , Lewis , N. A. and Hartman , J. C. 2009 . Technical Note: waiting cost models for real options . The Engineering Economist , 54 ( 1 ) : 1 – 21 .
  • Geske , R. 1979 . The valuation of compound options . Journal of Financial Economics , 7 : 63 – 81 .
  • Girsanov , I. V. 1960 . On transforming a certain class of stochastic processes by absolutely continuous substitution of measures . Theory of Probability and its Applications , 5 : 285 – 301 .
  • Hendricks , K. and Kovenock , D. 1989 . Asymmetric information, information externalities, and efficiency: the case of oil exploration . RAND Journal of Economics , 20 : 164 – 182 .
  • Herath , H.S. B. and Park , C. S. 1999 . Economic analysis of R&D projects: an option approach . The Engineering Economist , 44 ( 1 ) : 1 – 35 .
  • Herath , H.S. B. and Park , C. S. 2001 . Real option valuation and its relationship to Bayesian decision making methods . The Engineering Economist , 46 ( 1 ) : 1 – 32 .
  • Herath , H.S. B. and Park , C. S. 2002 . Multi-stage capital investment opportunities as compound real options . The Engineering Economist , 47 ( 1 ) : 1 – 27 .
  • Itō , K. 1951 . On stochastic differential equations . Memoirs, American Mathematical Society , 4 : 1 – 51 .
  • Lee , J. and Paxson , D. P. 2001 . Valuation of R&D real American sequential exchang options . R&D Management , 31 ( 2 ) : 191 – 201 .
  • Margrabe , W. 1978 . The value of an exchange option to exchange one asset for another . The Journal of Finance , 33 ( 1 ) : 177 – 186 .
  • Marseguerra , G. and Cortelezzi , F. 2010 . Strategic investment timing under profit complementarities . Economia Politica , 3 : 473 – 497 .
  • McDonald , R. L. and Siegel , D. R. 1985 . Investment and the valuation of firms when there is an option to shut down . International Economic Review , 28 ( 2 ) : 331 – 349 .
  • Paddock , J. , Daniel , S. and Smith , J. 1988 . Option valuation of claims on real assets: the case of offshore petroleum leases . Quarterly Journal of Economics , 103 ( 3 ) : 479 – 508 .
  • Pennings , E. and Sereno , L. 2011 . Evaluating pharmaceutical R&D under technical and economic uncertainty . European Journal of Operational Research , 212 ( 2 ) : 374 – 385 .
  • Villani , G. 2008 . An R&D investment game under uncertainty in real option analysis . Computational Economics , 32 ( 2–3 ) : 199 – 219 .
  • Zandi , F. and Tavana , M. 2010 . A hybrid fuzzy real option analysis and group ordinal approach for knowledge management strategy assessment . Knowledge Management Research & Practice , 8 : 216 – 228 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.