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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|Date of creation:||1997|
|Date of revision:|
|Contact details of provider:|| Postal: Department of Economics, The University of Melbourne, 4th Floor, FBE Building, Level 4, 111 Barry Street. Victoria, 3010, Australia|
Phone: +61 3 8344 5355
Fax: +61 3 8344 6899
Web page: http://fbe.unimelb.edu.au/economics
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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.:
- 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.
- 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.
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