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Simulation of R&D investment strategies

Author

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  • Bender, A Douglas
  • Pyle, Edmund B
  • Westlake, Wilfred J
  • Douglas, Bryce

Abstract

Simulation has been applied to a descriptive model of the R&D process and its relationship to other components of a commercial system with the objective to: (1) consider the size of the R&D expenditure in terms of future profit growth; (2) estimate the rate of return on the R&D investment; (3) compare the benefits of investment strategies designed to improve profit growth and return on investment; and (4) assess the consequences of anticipated extra corporate environmental futures on the attractiveness of the investment in R&D. With the use of this econometric model a number of major issues may be addressed in terms of their effect on R&D profitability and return on investment. These include: (1) the size of investment in R&D; (2) the level of research productivity; (3) strategies for development of new products worldwide; (4) rising R&D costs and inflation; (5) the probability of technical success; (6) market potential; (7) profit margin; and (8) length of product exclusivity.

Suggested Citation

  • Bender, A Douglas & Pyle, Edmund B & Westlake, Wilfred J & Douglas, Bryce, 1976. "Simulation of R&D investment strategies," Omega, Elsevier, vol. 4(1), pages 67-77.
    • Handle: RePEc:eee:jomega:v:4:y:1976:i:1:p:67-77
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