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;
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- Bardsley, Peter, 1999.
"The optimal management of research portfolios,"
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