Estimating spillover benefits of large R&D projects: Application of real options modelling approach to the case of thermonuclear fusion R&D programme

► Evaluate the strategic net social present value of fusion RDDD programme. ► Consider different types of spillover effects. ► Economic value of spillovers is estimated with a compound real options model. ► Spillover benefits could represent up to 20% of the value of fusion RDDD programme.