R&D investment is a risk-taking decision for innovations. However, trade-off relationship exists between short-term profit and expenditure (present vs. future), because of the uncertainty involved. Choosing to invest in thus seen as propensity decision-makers, how perceive risk susceptible their cognitive system. This study included three empirical studies involving situations. It looked at goa...

We analyze information security investment decisions by two firms that possess imperfectly substitutable information assets. Information assets are imperfectly substitutable if information at each firm is valuable and becomes more valuable when combined. When compared to optimal investment decisions made by a central planner, we find diametrically opposite results in the case where these decisi...