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Full-Text Articles in Business
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Milestone Payments Or Royalties? Contract Design For R&D Licensing, Pascale Crama, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We study how innovators can optimally design licensing contracts when there is incomplete information on the licensee's valuation of the innovation, and limited control over the licensee's development efforts. A licensing contract typically contains an up-front payment, milestone payments at successful completion of a project phase, and royalties on sales. We use principal-agent models to formulate the licensor's contracting problem, and we find that under adverse selection, the optimal contract structure changes with the licensee's valuation of the innovation. As the licensee's valuation increases, the licensor's optimal level of involvement in the development-directly or through royalties-should decrease. Only a risk-averse …
An Integrated Decision– Making Approach For Improving European Air Traffic Management, Yael Gruksha-Cockayne, Bert De Reyck, Zeger Degraeve
An Integrated Decision– Making Approach For Improving European Air Traffic Management, Yael Gruksha-Cockayne, Bert De Reyck, Zeger Degraeve
Research Collection Lee Kong Chian School Of Business
We develop a multistakeholder, multicriteria decision-making framework for Eurocontrol, the European air traffic management organization, for evaluating and selecting operational improvements to the air traffic management system. The selected set of improvements will form the master plan of the Single European Sky initiative for harmonizing air traffic, in an effort to cope with the forecasted increase in air traffic, while maintaining safety, protecting the environment, and improving predictability and efficiency. The challenge is to select the set of enhancements such that the required performance targets are met and all key stakeholders are committed to the decisions. In this paper, we …
Dynamic Allocation Of Airline Check-In Counters: A Queueing Optimisation Approach, Mahmut Parlar, Sharafali Moosa
Dynamic Allocation Of Airline Check-In Counters: A Queueing Optimisation Approach, Mahmut Parlar, Sharafali Moosa
Research Collection Lee Kong Chian School Of Business
This paper was motivated by an observation in an international airport with regard to allocation of resources for check-in counters. In an exclusive check-in counter system, each flight has a dedicated number of counters that will be open until at least a half-hour before the scheduled departure of that flight. Currently, in many of the airports around the world, the decision to open or close check-in counters is done on an ad hoc basis by human schedulers. In doing so, the schedulers are almost always forced to perform a balancing act in meeting the quality of service stipulated by the …