Diversification Versus Concentration: A Note on the Allocation of Effort Among Risky Research Projects / Diversifikation oder Konzentration in der Forschung

Beckmann Martin
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Beckmann Martin: 77 Arlington Avenue, Providence, R.I. 02906, USA.

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 1998, vol. 217, issue 1, 3-9

Abstract: Under what conditions is concentration as against diversification the better strategy in allocating research effort up to a given capacity limit? We compare the short and the long run and various types of interdependence. This is a theoretical analysis based on a negative exponential relationship between the probability of success and the amount of research input.

Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:217:y:1998:i:1:p:3-9

DOI: 10.1515/jbnst-1998-0103

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