JANG, WON-JOON; LEE, JEONG-DONG - In: International Journal of Innovation and Technology … 08 (2011) 01, pp. 95-112
makers mainly focus on previous cost and NPV-based approaches to evaluate them. Defense R&D projects should be considered as … with the use of an eight-fold compound option in the valuation of defense R&D projects and its illustrative application … defense decision makers to decide their defense R&D projects. The contribution of this paper is to present the real option …