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| Author: | Benninga, S. Tolkowsky, E. |
| Title: | Ral options - an introduction and an application to R&D valuation |
| Journal: | Engineering Economist
2002 : VOL. 47:2, p. 151-168 |
| Index terms: | R&D Options Technology |
| Language: | eng |
| Abstract: | The authors summarize the real options approach and show how it can be used to introduce flexibility into the capital budgeting process. They then go on to show an application of real option evaluation to research and development valuation in the pharmaceutical industry. The calculations and illustrations are in Excel and can be easily replicated. |
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