Abstract
The previous chapter was concerned with the nature, organization, and technical outcome of industrial research and development. In this chapter, we continue to focus on industrial research and development, but our attention shifts to different, though related, aspects of this topic. Specifically, we are interested in the extent to which firms are using various quantitative techniques to select R and D projects. These techniques have been the object of considerable investigation by operations researchers and management scientists. Also, we are interested in the extent of the commercial risks—as distinct from technical risks—involved in research and development. The previous chapter dealt only with technical risks.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
For descriptions of each kind of technique, see N. Baker and W. Pound, “R and D Project Selection: Where We Stand,” IEEE Transactions in Engineering Management (June 1964);
Robert Seiler, Improving the Effectiveness of Research and Development (New York: McGraw-Hill, 1965). These three techniques were the only quantitative selection techniques used by any of the firms.
Edwin Mansfield, Industrial Research and Technological Innovation (New York: W. W. Norton for the Cowles Foundation for Research in Economics at Yale University, 1968), Chap. 7.
Dennis Meadows, “Estimate Accuracy and Project Selection Models in Industrial Research,” Industrial Management Review (Spring 1968).
E. Roberts, “Questioning the Cost-Effectiveness of the R and D Procurement Process,” in Research Program Effectiveness, ed. by M. Yovits, D. Gilford, R. Wilcox, E. Staveley, and H. Lerner ( New York: Gordon and Breach, 1966).
Author information
Authors and Affiliations
Copyright information
© 1971 W. W. Norton & Company, Inc.
About this chapter
Cite this chapter
Mansfield, E., Rapoport, J., Schnee, J., Wagner, S., Hamburger, M. (1971). Project Selection, Commercial Risks, and the Allocation to Small Business of Federal Research and Development Contracts. In: Research and Innovation in the Modern Corporation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-01639-6_3
Download citation
DOI: https://doi.org/10.1007/978-1-349-01639-6_3
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-01641-9
Online ISBN: 978-1-349-01639-6
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)