The comparative advantage of real options: an explanation for the US specialization in biotechnology

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The comparative advantage of real options: an explanation for the US specialization in biotechnology

Please use this identifier to cite or link to this item: http://hdl.handle.net/10355/1171

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Title: The comparative advantage of real options: an explanation for the US specialization in biotechnology
Author: Lavoie, Brian F.; Sheldon, Ian M.
Keywords: research and development (R&D)
comparative advantage
Date: 2000
Publisher: AgBioForum
Citation: AgBioForum 3(1) 2000: 47-52.
Abstract: Comparative advantage based on resource endowments cannot explain United States (U.S.) leadership in biotechnology. Sources of heterogeneity within the process of research and development (R&D) investment, such as international differences in the maximum per-period rate of investment and regulatory uncertainty, offer a plausible explanation that can be incorporated into a real options approach to investment.
URI: http://hdl.handle.net/10355/1171
ISSN: 1522-936X

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