Using a simple model where singles try to maximize their pizazz, we examine the value of the option to give up single life in favor of marriage when singles' pizazz levels follow correlated geometric Browninan motions.

This paper discusses three key elements of stochastic growth in the Schumpeterian dynamics. These elements comprise the new entry of firms in an industry, the displacement of the old technology by the new and the nonlinear impact of learning by doing on the growth of innovating firms. Each of...