We consider investments in development projects within competitive environments where the ‘‘winner takes everything’’. Under stationary uncertainty, it is optimal to start investing immediately at full capacity and continue until exhausting the allocated budget. For non-stationary environments, active investment, possibly deferred, will always be at full capacity; an example demonstrates that f...

Over the past decade, the NASA Langley Research Center developed a series of "grand challenge" applications demonstrating the use of parallel and distributed computation and multidisciplinary design optimization. All but the last of these applications were focused on the high-speed civil transport vehicle; the final application focused on reusable launch vehicles. Teams of discipline experts de...

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Pilot projects appear in many forms in policy making and management. In an effort to understand the nature and use of pilot projects and improve their effectiveness, we undertake a practicebased and theoretical study of the pilot project phenomenon. First, we examine the roles assigned to pilot projects in the policy development literature and explore their use in a Dutch water innovation platf...