Arbeitspapier
The radical innovation investment decision refined
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 parameters in this highly uncertain decision process. We show that these stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain attractive for private entrepreneurs.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 7338
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Entrepreneurship
- Thema
-
radical innovation
innovation
entrepreneurship
investment
R&D
risk
real option theory
technology
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bilkic, Natasa
Gries, Thomas
Naudé, Wim A.
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bilkic, Natasa
- Gries, Thomas
- Naudé, Wim A.
- Institute for the Study of Labor (IZA)
Entstanden
- 2013
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