We refine modelling of the radical innovation decision in this paper by extending real option theory to include non-marginal stochastic jump processes. From the model analytics we determine that the average magnitude and frequency of non-marginal stochastic jump processes are the most important...

The purpose of this research is to develop a cost estimation model of a project with its real options. This issue is particularly attributed to the selection of an adequate evaluation model. However, despite the high computational accuracy of a particular model, it can scarcely ever meet the...

A brief analysis of British Columbia’s productivity performance and the state of the drivers of this performance reveals that five areas merit additional focus and research. They are, in the proposed order of completion: Education and literacy, including professional qualifications and...

Schumpeter maintained that oscillations of macroeconomic variables are only the "secondary wave" of business cycles, a reflex of more fundamental "primary waves" at the microeconomic level caused by the innovative activity of entrepreneurs. Uniting Schumpeter's concern for innovation with...

We focus on both individual and local uncertainty to explain the innovation potential of entrepreneurs in the NUTS1 UK regions in 2005 and 2009. The 'potential surprise function' (Shackle, 1949) clarifying why sometimes promising business choices are truncated is taken as a determinant of an...