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Research funding systems are not isolated systems - they are embedded in a larger scientific system with an enormous influence on the system. This paper aims to analyze the allocation of competitive research funding from different…
Research and innovation is important agenda for any company to remain competitive in the market. The relationship between innovation and revenue is a key metric for companies to decide on the amount to be invested for future research. Two…
This study explores the relationship between R&D intensity, as a measure of innovation, and financial performance among S&P 500 companies over 100 quarters from 1998 to 2023, including multiple crisis periods. It challenges the conventional…
This study investigates the relationship between innovation activities and firm-level productivity among early-stage high-tech startups in China. Using a proprietary dataset encompassing patent records, R&D expenditures, capital valuation,…
Theories of innovation emphasize the role of social networks and teams as facilitators of breakthrough discoveries. Around the world, scientists and inventors today are more plentiful and interconnected than ever before. But while there are…
Reinforcement learning (RL) is an innovative approach to financial decision making, offering specialized solutions to complex investment problems where traditional methods fail. This review analyzes 167 articles from 2017--2025, focusing on…
In a global and technology oriented world the requirements that products and services have to fulfill are increasing and are getting more complicated. Research and development (R&D) is becoming increasingly important in creating the…
Research projects are primarily collaborative in nature through internal and external partnerships, but what role does funding play in their formation? Here, we examined over 43,000 funded projects in the past three decades, enabling us to…
In today's dynamic and interconnected world, resource constraints pose significant challenges across various domains, ranging from networks, logistics and manufacturing to project management and optimization, etc. Resource-constrained…
Funding is a cost to trading desks that they see as an input. Current FVA-related literature reflects this by also taking funding costs as an input, usually constant, and always risk-neutral. However, this funding curve is the output from a…
Reinforcement learning with verifiable rewards (RLVR) is a practical, scalable way to improve large language models on math, code, and other structured tasks. However, we argue that many headline RLVR gains are not yet well validated…
We consider a group consisting of N business units. We suppose there are regulatory constraints for each unit, more precisely, the net worth of each business unit is required to belong to a set of acceptable risks, assumed to be a convex…
Understanding the relationship between emerging technology and research and development has long been of interest to companies, policy makers and researchers. In this paper new sources of data and tools are combined with a novel technique…
Financial networks help firms manage risk but also enable financial shocks to spread. Despite their importance, existing models of financial networks have several limitations. Prior works often consider a static network with a simple…
Reinforcement Learning with Verifiable Rewards (RLVR) has emerged as a key method for improving Large Language Models' reasoning capabilities, yet recent evidence suggests it may paradoxically shrink the reasoning boundary rather than…
We introduce heterogeneous R&D productivities into an endogenous R&D network formation model, generalizing the framework of Goyal and Moraga-Gonz\'alez (2001). Heterogeneous productivities endogenously create asymmetric gains from…
Scientific research funding is allocated largely through a system of soliciting and ranking competitive grant proposals. In these competitions, the proposals themselves are not the deliverables that the funder seeks, but instead are used by…
The goal of this research is to uncover the channels through which research and development (R&D) impacts economic growth in developing countries. The study employed nine variables from three broader categories in the World Economic Forum…
We develop a two-region economic geography model with vertical innovations that improve the quality of manufactured varieties produced in each region. The chance of innovation depends on the \emph{related variety}, i.e. the importance of…
In finance, sequential decision problems are often faced, for which reinforcement learning (RL) emerges as a promising tool for optimisation without the need of analytical tractability. However, the objective of classical RL is the expected…