The Optimal Management of Research Portfolios
AbstractRisky research projects are, other things being equal, intrinsically harder to monitor than those which are less risky. It is shown, using agency theory that a standard cost benefit analysis which ignores the agency problem will introduce a bias towards excessively risky projects.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 549.
Length: 16 pages
Date of creation: 1997
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
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Other versions of this item:
- Bardsley, Peter, 1999. "The optimal management of research portfolios," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 43(3), September.
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Anderson, Jock R. & Pardey, Philip G. & Roseboom, Johannes, 1994. "Sustaining growth in agriculture: A quantitative review of agricultural research investments," Agricultural Economics, Blackwell, vol. 10(2), pages 107-123, April.
- Bardsley, P., 1997. "Multiple Action Agency: An Application to the Management of Scientific Research," Department of Economics - Working Papers Series 550, The University of Melbourne.
- Stoneham, Gary & Strappazzon, Loris & Soligo, James & Fisher, Bill & Eigenraam, Mark & Wimalasuriya, Rukman, 2000. "Evaluation Of Research Activities," 2000 Conference (44th), January 23-25, 2000, Sydney, Australia 123645, Australian Agricultural and Resource Economics Society.
- Kingwell, Ross S., 1999. "Institutional and social influences on R&D evaluation in agriculture," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 43(1), March.
- X. Zhao & J.D. Mullen & G.R. Griffith & R.R. Piggott & W.E. Griffiths, 2002. "The Economic Incidence of R&D and Promotion Investments in the Australian Beef Industry," Monash Econometrics and Business Statistics Working Papers 16/02, Monash University, Department of Econometrics and Business Statistics.
- Omuru, Eric & Kingwell, Ross S., 2005. "Funding and Managing Agricultural Research in a Developing Country: a Papua New Guinea case study," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137938, Australian Agricultural and Resource Economics Society.
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