Circumstances | Mean | Variance | Dominance | λ = 0.5 | λ = 1.0 | λ = 1.5 |
1) Lower risk (a = 0.9 & b = 1.1) | ||||||
N = 5 (launch stage) | 1) −Pb−period | 1) +Growth | 1) −Growth | 1) −Growth | 1) −Growth | 1) −Growth |
2) +IRR | 2) –Pb-period | 2) –Pb-period | 2) –Pb-period | 2) –Pb-period | ||
3) −Growth | 3) +IRR | |||||
N = 10 (growth stage) | 1) +IRR | 1) +Growth | 1) −Growth | 1) −Growth | 1) −Growth | 1) −Growth |
2) −Growth | 2) +IRR | |||||
3) –Pb-period | ||||||
2) Higher risk (a = 0.8 & b = 1.2) | ||||||
N = 5 (launch stage) | 1) −Pb−period | 1) +Growth | 1) −Growth | 1) −Growth | 1) −Growth | 1) −Growth |
2). +IRR | 2) –Pb-period | 2) –Pb-period | ||||
3) −Growth | ||||||
N = 10 (growth stage) | 1) +IRR | 1. +Growth | 1) −Growth | 1) −Growth | 1) −Growth | 1) −Growth |
2) −Growth | 2) +IRR | |||||
3) –Pb-period |