The real option theory provides a useful tool to evaluate an R&D investment under uncertainty because, unlike the NPV (Net Present Value), it considers the managerial flexibility that may be expand the investment opportunity value. However, most R&D investment projects are open to competing...

Is work overload a friction to public agencies? Using data on R&D procurements, patents, and contracting units from a US federal agency, we investigate how officer workload impacts innovation procurement outcomes. Unanticipated retirement shifts provide an exogenous source of variation that we...

Is work overload a friction to public agencies? Using data on R&D procurements, patents, and contracting units from a US federal agency, we investigate how officer workload impacts innovation procurement outcomes. Unanticipated retirement shifts provide an exogenous source of variation that we...