Research and development project selection in the public sector
This article argues for an innovative methodology to appraising (ex ante) longer-term strategic research and development (R&D) investments. This methodology reflects the inherent value of such R&D in terms of opening up opportunities (but not obligations) for investment in new technological areas with potentially substantial returns. Although corporate R&D managers and public administrators describe the merits of long-term research on these grounds, only recently has the qualitative argument been replaced by the foundations of a methodology capable of quantifying this inherent value of R&D. Such a methodology could also facilitate a transition toward the use of more appropriate discount rates other than the unvarying rates of traditional methodologies.
Year of publication: |
1998
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Authors: | Vonortas, Nicholas S. ; Hertzfeld, Henry R. |
Published in: |
Journal of Policy Analysis and Management. - John Wiley & Sons, Ltd., ISSN 0276-8739. - Vol. 17.1998, 4, p. 621-638
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Publisher: |
John Wiley & Sons, Ltd. |
Saved in:
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