Over the past decades, private R&D spending in the US and other developed countries has been growing faster than GDP. At the same time, the growth rates of per capita and aggregate output have been rather stable, possibly declining slightly. This paper proposes a growth model that can account...

This paper shows that the conditionality of investment decisions in R&D has a critical impact on portfolio risk, and implies that traditional diversification strategies should be reevaluated when a portfolio is constructed. Real option theory argues that research projects have conditional or...

With the death of Prof. Vittorio Santaniello in the summer of 2007, the International Consortium for Agricultural Biotechnology Research (ICABR) lost one of its most enthusiastic founders and most important contributors. This special issue celebrates Prof. Santaniello’s commitment to the...

We analyse how a patent-holding pharmaceutical firm may strategically use advertising of existing drugs to affect R&D investments in new (differentiated) drugs, and thereby affect the probability distribution of future market structures in the industry. Within a fairly general model framework,...

Innovationen sind für die Wirtschaft eines Landes von außerordentlicher Bedeutung. Daher ist es wichtig, dass Ergebnisse und moderne Verfahrensweisen der öffentlich organisierten Forschung bei den Unternehmen ankommen. Dies betrifft vor allem Klein- und Mittelunternehmen (KMU), die hier noch...