A simulation model that attempts to include simplified market and production characteristics of a hypothetical firm and a specific project selection decision mechanism is constructed. Three types of projects are assumed to exist---projects whose impact is to increase market share, decrease...

One reason existing approaches for dealing with benefit interactions in economic R and D project selection models are difficult to apply is that it is difficult to assess the interactions directly. This difficulty can be traced at least in part to the lack of a modeling framework within which...