Do managers play games with R&D?

What an interesting paper!As most anyone in industry will tell you, managers often play games with R&D spending. Whether it is for their own "pet projects" or to further some cause within the firm. Of course, this should not be surprising as no where are information assymetry probelms more severe than in R&D spending.Bange, De Bondt, and Shrider now provide empirical evidence of this game playing