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on Project, Program and Portfolio Management |
| By: | Tommaso Gabrieli; Gianluca Marcato (School of Real Estate & Planning, University of Reading) |
| Abstract: | This paper builds on a fast growing literature which introduces game theory in the analysis of real option investments in a competitive setting. Specifically, in this paper we focus on the issue of multiple equilibria and on the implications that different equilibrium selections may have for the pricing of real options and for subsequent strategic decisions. We present some theoretical results of the necessary conditions to have multiple equilibria and we show under which conditions different tie-breaking rules result in different economic decisions. We then present a numerical exercise using the information set obtained on a real estate development in South London. We find that risk aversion reduces option value and this reduction decreases marginally as negative externalities decrease. |
| Keywords: | game theory and real options, equilibrium selection, real estate development |
| JEL: | C73 D81 D11 |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:rdg:repxwp:rep-wp2009-05&r=ppm |
| By: | Rani Jeanne Dang (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS : UMR6227 - Université de Nice Sophia-Antipolis) |
| Abstract: | Geographical clusters are nowadays considered as a relevant factor for competitiveness, thanks to their innovative capabilities. In this context, public policies based on this approach are flourishing all over the world. The French “Pole of competitiveness” (PoC) policy (Politique des pôles de compétitivité) is one of these initiatives. It is the new French industrial policy aiming at reinforcing the specializations of the economy and the attractiveness of territories by fostering the development of R&D projects, bringing together multinationals, universities, and particularly Small-Middle-Sized-Enterprises (SMEs). Precisely, significant research suggests that in order to innovate SMEs need to cooperate and they are also vital for the functioning, and survival of innovative milieux. Consequently, their integration is a key issue for French PoC’ success. However, the call for projects shows that despite their efforts, French Poles of Competitiveness are not totally successful: a gap remains especially between the massive financial investments helping SMEs innovate and the expected results. Yet, this issue is only analysed by focusing on intrinsic weaknesses of SMEs’ management or on the complexities of existing support programmes supporting SMEs’ innovation. This is insufficient. Innovation dynamics are different from a cluster to another and many failures of innovation policies come from the lack of identification of these specificities. Therefore, this paper aims are threefold: it aims at introducing the French PoC, indeed, the French PoC policy is the main new policy gathering all the nation’s innovation programmes. But few papers are explaining how they work. It aims at identifying the territorial innovation dynamics within PoC and how they work, and then combine this analysis with the intrinsic features of SMEs management, to better understand how they get involved in these dynamics. It finally aims at presenting the preliminary results of the first stage of research: the analysis of a specific French PoC, the “Secured Communicating Solutions”(SCS) PoC as well as the further research questions they raise for the next stage of research. |
| Keywords: | clusters, interaction, knowledge management, SMEs |
| Date: | 2009–01–30 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00365159_v1&r=ppm |
| By: | Sameeha Sheth |
| Date: | 2009–08–14 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwneu:neurusp142&r=ppm |
| By: | Chambers, Robert (Institute for Development Studies, Unversity of Sussex); Karlan, Dean (Yale University, Department of Economics); Ravallion, Martin (World Bank); Rogers, Patricia (Royal Melbourne Institute of Technology) |
| Abstract: | Debates on approaches to impact evaluation design appear to have reached an impasse in recent years. An objective of the international conference, Perspectives on Impact Evaluation, March 29th to April 2nd, Cairo, organized by 3ie, NONIE, AfrEA and UNICEF, was to bring together different voices and so work toward a consensus. A key session in this approach was a plenary in which experts from different perspectives were asked how they would approach the evaluation of three interventions: a conditional cash transfer, an infrastructure project and an anti-corruption program. The motivation for the session was that debates get stuck when they remain at the conceptual level, but that a greater degree of consensus can be achieved once we move to the specifics of the design of a particular evaluation. |
| Keywords: | evaluation |
| Date: | 2009–07–05 |
| URL: | http://d.repec.org/n?u=RePEc:ris:iiierp:2009_004&r=ppm |
| By: | Erich Wiegand |
| Abstract: | The potential of market research data for secondary analyses lays mainly in the fields of consumer behaviour, consumption patterns and media usage. Their availability for empirical social and economic research depends on the professional rules as well as on the readiness of the market research agencies and their clients to make them available. Many market research projects are focused on specific target groups. This focuses their potential for secondary analyses on representative insights regarding these groups as well as on basic and methodological research. In most cases it is necessary that public availability of market research data is agreed contractually with the client of the research project. For a number of market research projects access to the official statistical data is important for methodological reasons. Therefore private research agencies should have the same privileged access to them as academic research institutions. As long as this access has not been established it is unlikely that their readiness to make market research data publicly available will increase. |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:rsw:rswwps:rswwps87&r=ppm |