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institutions reinforce each other in slowing or preventing people from learning the correct underlying parameters. …
Persistent link: https://www.econbiz.de/10005011855
. We consider a dynamic game in which firms improve both a new and a rival old technology while learning about the relative …
Persistent link: https://www.econbiz.de/10005504449
occupations are also a fundamental, but overlooked, driver of innovation. Theory also suggests cities are important for both … the links between creative industries, occupations, cities and innovation at the firm level. This paper addresses this gap … driver of innovation. We find no support for the hypothesis that urban creative industries firms are particularly innovative …
Persistent link: https://www.econbiz.de/10011083220
Why are some cities specialized and others diversified? What are the advantages and disadvantages of urban specialization and diversity? To what extent does the structure of cities, and the activities of firms and people in them, change over time? How does the sectoral composition of cities...
Persistent link: https://www.econbiz.de/10005791261
This Paper considers the financing of a research project under uncertainty about the time of completion and the probability of eventual success. The uncertainty about future success diminishes gradually with the arrival of additional funding. The entrepreneur controls the funds and can divert...
Persistent link: https://www.econbiz.de/10005791971
innovation and imitation. We develop a theoretical model showing that skilled labour has a higher growth-enhancing effect closer … to the technological frontier under the reasonable assumption that innovation is a relatively more skill intensive … the two separate margins of primary/secondary and tertiary education. Interestingly, the latter type of schooling proves …
Persistent link: https://www.econbiz.de/10005792394
: can we increase number of inventors? To answer this question, we study the causal effect of M.Sc. engineering education on …. We find a positive effect of engineering education on the propensity to patent, and a negative OLS bias. Our …
Persistent link: https://www.econbiz.de/10009275968
productivity. Education as well as innovation and production require skilled labour as inputs. This and the fact that learning … study the impact of changes in the education of workers and the incentives to innovate. Lower profits imply lower growth … redistribution. Subsidization of education increases employment and growth. Redistribution through the tax and benefit system or …
Persistent link: https://www.econbiz.de/10005114510
We analyse the consumption strategy of a dynamically inconsistent individual for goods that provide an immediate benefit and a delayed cost. The agent has incomplete information on the cost inherent to each unit of consumption and partially learns this value anytime he consumes. We show that, by...
Persistent link: https://www.econbiz.de/10005504250
An economy consists of many duopolistic markets. Firms must earn normal profits in the long run if they are to survive. Normal profits are interpreted as the long-run limit of average profits in the whole economy. We adopt the aspiration based model of firm behaviour, and link it to the economy...
Persistent link: https://www.econbiz.de/10005504330