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I propose to add two very general constraints to the standard rendition of production functions. These constraints naturally open the analysis of production functions to recursion theory. Some powerful results are exploited and applied to certain aspects of the theory of production. In...
Persistent link: https://www.econbiz.de/10005706691
Starting from De Canio and Watkins (1996) model of the firm, we study the diffusion of an industry-specific innovation in a digraph where each node "decides" whether or not to accept the innovation. We consider two scenarios. In the first one, the innovation is generated inside some firm and...
Persistent link: https://www.econbiz.de/10005706696
Agent-based methods have provided economics with new ways of modeling economic processes. We have found these possibilities useful with respect to modeling endogenous growth, in particular the modeling of learning agents that must cope with real world growth constraints such as time, space, and...
Persistent link: https://www.econbiz.de/10005170595