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Real Options: a proposal to assess R&D projects at agricultural public research centers

Author

Listed:
  • Luzia Vedovoto Graciela

    (Universitàt Autònoma de Barcelona)

  • Prior Diego

    (Universitàt Autònoma de Barcelona)

Abstract

Investment decisions in research and development (R&D) are important to the success of organizations, especially for public research. This paper evaluates an R&D project (seed breeding) using the traditional method, the Net Present Value, and the more contemporaneous technique of real options. Economic Surplus Theory and Monte Carlo simulations are used to estimate social benefits. The results indicate that the real-options approach is a useful tool for assessing R&D public projects.

Suggested Citation

  • Luzia Vedovoto Graciela & Prior Diego, 2015. "Real Options: a proposal to assess R&D projects at agricultural public research centers," Contaduría y Administración, Accounting and Management, vol. 60(1), pages 145-180, enero-mar.
    • Handle: RePEc:nax:conyad:v:60:y:2015:i:1:p:145-180
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