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Based on the uncertainty of market size and results of R&D, combining with characters of labor-managed firms, we develop a model of technology innovation in the duopoly market of labor-managed and profit-maximizing firm coexisting, and analyze the effects of some facts on option value of R&D investment in the labor-managed firm. Our results show that option value of R&D investment in the...
With the rapid changes in information technology, the unstoppable economical globalization and the in-depth development of the network economy, the market competition rules, the uncertainty of running the enterprise, as well as the enterprise traditional antagonism competition have undergone tremendous changes. Under the new economic condition, the enterprises can not simply depend upon their own...
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