An inherent characteristic of Ramp;D projects is technological uncertainty, which may result in project failure, and time and resources spent without any tangible return. In pharmaceutical projects, for instance, stringent scientific procedures have to be followed to ensure patient safety and...

In live broadcasting, the break lengths available for commercials are not always fixed and known in advance (e.g., strategic and injury time-outs are of variable duration in live sports transmissions). Broadcasters actively manage their advertising revenue by jointly optimizing sales and...

We study how innovators can optimally design licensing contracts, when there is incomplete information on the licensee's valuation of the innovation, and limited control over the licensee's development efforts. A licensing contract typically contains an upfront payment, milestone payments at...

Research and development (R&D) collaborations, common in high-tech industries, are challenging to manage due to technical and market risks as well as incentive problems. We investigate how control rights, options, payment terms and timing allow the innovator to capture maximum value from its R&D...

We study a modified newsvendor model in which the newsvendor obtains a revenue from sales to end users as well as from an advertiser paying to obtain access to those end users. We study the optimal decisions for both a price-taking and a price-setting newsvendor when the advertiser has private...