The Optimal Management of Research Portfolios
Risky 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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- Anderson, Jock R. & Pardey, Philip G. & Roseboom, Johannes, 1994.
"Sustaining growth in agriculture: A quantitative review of agricultural research investments,"
Blackwell, vol. 10(2), pages 107-123, April.
- Anderson, Jock R. & Pardey, Philip G. & Roseboom, Johannes, 1994. "Sustaining growth in agriculture: a quantitative review of agricultural research investments," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 10(2), 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.
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