Application of option pricing theory to R&D

Much attention has been paid in the literature to methods for the evaluation and selection of R&D projects. The evidence is that these are less extensively used than might be expected. More recently, an approach based on Option Pricing Theory has been suggested as one which is likely to be of co...

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Veröffentlicht in:	R & D management 1994-01, Vol.24 (1), p.083-089
Hauptverfasser:	Newton, D. P., Pearson, A. W.
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic theory Methods Options markets Pricing policies Project evaluation R&D Research & development
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description	Much attention has been paid in the literature to methods for the evaluation and selection of R&D projects. The evidence is that these are less extensively used than might be expected. More recently, an approach based on Option Pricing Theory has been suggested as one which is likely to be of considerable value to management. In this paper the method is described, the information which is required is identified and the way in which it might be applied in practice is discussed.
doi_str_mv	10.1111/j.1467-9310.1994.tb00849.x
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subjects	Economic theory Methods Options markets Pricing policies Project evaluation R&D Research & development
title	Application of option pricing theory to R&D
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