Multiple Action Agency: An Application to the Management of Scientific Research
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 project 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 550.
Length: 27 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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MANAGEMENT; TECHNOLOGY; RESEARCH AND DEVELOPMENT;
Find related papers by JEL classification:
- 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
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- Bardsley, P., 1997.
"The Optimal Management of Research Portfolios,"
Department of Economics - Working Papers Series
549, The University of Melbourne.
- 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.
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