THE SOURCE OF COMPARATIVE ADVANTAGE IN THE BIOTECHNOLOGY INDUSTRY: A REAL OPTIONS APPROACH
| dc.creator | Lavoie, Brian F. | |
| dc.creator | Sheldon, Ian M. | |
| dc.date | 2017-04-01T13:57:33Z | |
| dc.date.accessioned | 2026-07-09T03:35:49Z | |
| dc.description | Sources of heterogeneity within the process of R&D investment, such as international differences in the maximum per-period rate of investment and level of regulatory uncertainty, offer a plausible explanation for US comparative advantage in biotechnology. Using dynamic stochastic simulation, the results presented in this paper suggest US biotechnology firms may initiate more R&D projects, innovate earlier and more rapidly, persevere longer in the face of mounting R&D costs, and successfully complete more R&D projects than European firms. | |
| dc.identifier | doi:10.22004/ag.econ.21508 | |
| dc.identifier | https://ageconsearch.umn.edu/record/21508/files/sp99la05.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/21508 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/536093 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/21508 | |
| dc.title | THE SOURCE OF COMPARATIVE ADVANTAGE IN THE BIOTECHNOLOGY INDUSTRY: A REAL OPTIONS APPROACH | |
| dc.type | Text |