Cozzi, Guido (contributor); Galli, Silvia (contributor) - 2008
. Section
4 studies a stylized post-1980 US scenario, where basic R&D achievements
are patented and, afterwards, developed into … v1L), plus gradual
appreciation in the case of such event25 not occurring, dv0Ldt .
Eq. (3c) equals the risk free income … probability of this event tends
to 1 as dt ! 0. This is why this probability does not appear in the equation.
14
Hence the …