Filson, Darren; Masia, Neal - In: Managerial and Decision Economics 28 (2007) 4-5, pp. 329-351
We introduce a computational model of the evolution of a value-maximizing research-based pharmaceutical firm and parameterize it using estimates of R&D costs, profit distributions, and candidate attrition rates. We use the model to estimate how the probability of surviving and covering the costs...