A real options game of alliance timing decisions in biopharmaceutical research and development

DOI10.1016/J.EJOR.2017.03.025MaRDI QIDQ1753672zbMATH OpenOpenAlexFDO

Authors Azzurra Morreale, Serena Robba, Giovanna Lo Nigro, Paolo Roma

Publication date 29 May 2018

Published in European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.ejor.2017.03.025

zbMATH Keywords

OR in research and developmentreal options gamesbiopharmaceutical industryresearch and development alliance timing

Mathematics Subject Classification ID

Applications of game theory (91A80) Production theory, theory of the firm (91B38)

Recommendations

• R\&D cooperation in real option game analysis
• REAL OPTIONS AND THE EVALUATION OF RESEARCH AND DEVELOPEMENT PROJECTS IN THE PHARMACEUTICAL INDUSTRY : A CASE STUDY(Special Issue on Theory, Methodology and Applications in Financial Engneering)
• Algorithmic Applications in Management
• Strategic Delay in a Real Options Model of R&D Competition
• The impact of delaying an investment decision on R\&D projects in real option game
• An R\&D investment game under uncertainty in real option analysis
• Real options game models of R\&D competition between asymmetric firms with spillovers
• Time to complete and research joint ventures: a differential game approach
• Using game theory to model R\&D investment decision-making under uncertainty
• Optimal allocation of ownership rights in dynamic R\&D alliances.

Cites work

• Co-development ventures: optimal time of entry and profit-sharing
• Developing real option game models
• Earnouts in mergers and acquisitions: a game-theoretic option pricing approach
• Evaluating pharmaceutical R\&D under technical and economic uncertainty
• Option pricing when underlying stock returns are discontinuous
• Real (investment) options with multiple sources of rare events
• Strategic investment under uncertainty: a synthesis
• The pricing of options and corporate liabilities
• Timing of investments in oligopoly under uncertainty: a framework for numerical analysis

Cited in

(7)

• Optimal patent policy in the presence of vertical separation
• REAL OPTIONS AND THE EVALUATION OF RESEARCH AND DEVELOPEMENT PROJECTS IN THE PHARMACEUTICAL INDUSTRY : A CASE STUDY(Special Issue on Theory, Methodology and Applications in Financial Engneering)
• Risky choices in strategic environments: an experimental investigation of a real options game
• Valuing multistage investment projects in the pharmaceutical industry
• Cooperative R\&D investment decisions: a fuzzy real option approach
• Optimal exercise of jointly held real options: a Nash bargaining approach with value diversion
• Study on the construction and construct timing of R\&D alliance

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