@inproceedings{Leung2012NumericalAF, title={Numerical algorithms for R & D stochastic control models}, author={Chi Man Leung and Yue Kuen Kwok}, year={2012} }

- Published 2012

We consider the optimal strategy of R&D expenditure adopted by a firm that engages in R&D to develop an innovative product to be launched in the market. The firm faces with technological uncertainty associated with the success of the R&D effort and market uncertainty of the stochastic revenue flow generated by the new product. Our model departs from most R… CONTINUE READING

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