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Note---A Note on Economic Models for R&D Project Selection in the Presence of Project Interactions

Author

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  • Paula M. Goldstein

    (AT&T Information Systems, Crawfords Corner Road, Holmdel, New Jersey 07733)

  • Howard M. Singer

    (AT&T Information Systems, Crawfords Corner Road, Holmdel, New Jersey 07733)

Abstract

In their paper, "Economic Models for R&D Project Selection in the Presence of Project Interactions," Fox, Baker, and Bryant (Fox, G. E., N. R. Baker, J. L. Bryant. 1984. Economic models for R and D project selection in the presence of project interactions. Management Sci. 30 (July) 890--902.) proposed a model that included benefit interactions, called present value (PV) interactions, between R&D projects. Several computational errors in this paper invalidated the illustrative example which sought to demonstrate that ignoring the PV interactions could result in both nonoptimal project selections and resource allocations. However, a single correction yields an example that supports the authors' central premise. Furthermore, we believe that the model itself can prove useful in real applications.

Suggested Citation

  • Paula M. Goldstein & Howard M. Singer, 1986. "Note---A Note on Economic Models for R&D Project Selection in the Presence of Project Interactions," Management Science, INFORMS, vol. 32(10), pages 1356-1360, October.
    • Handle: RePEc:inm:ormnsc:v:32:y:1986:i:10:p:1356-1360
    DOI: 10.1287/mnsc.32.10.1356
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    Cited by:

    1. Sulin Ba & Jan Stallaert & Andrew B. Whinston, 2001. "Optimal Investment in Knowledge Within a Firm Using a Market Mechanism," Management Science, INFORMS, vol. 47(9), pages 1203-1219, September.

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    Keywords

    R&D management; project selection;

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