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This study develops a model of endogenous growth based on increasing returns due to firms' technology choices. Particular attention is paid to the implications of these choices, combined with the substitution of capital for labor, on economic growth in a general equilibrium model in which the...
Persistent link: https://www.econbiz.de/10005829601
This study develops a model of endogenous growth based on increasing returns due to firms' technology choices. Particular attention is paid to the implications of these choices, combined with the substitution of capital for labor, on economic growth in a general equilibrium model in which the...
Persistent link: https://www.econbiz.de/10005832269
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A commonly held view is that laboratory experiments provide researchers with more “control” than natural field experiments, and that this advantage is to be balanced against the disadvantage that laboratory experiments are less generalizable. This paper presents a simple model that explores...
Persistent link: https://www.econbiz.de/10011133521