Die verbesserte Landwirtschaft im Mittelalter, später die industrielle Revolution und heute die künstliche Intelligenz – im Laufe der Geschichte wurde der technologische Wandel stets als Haupttriebkraft für das Gemeinwohl angesehen. Doch die Fortschrittsgewinne fallen nur wenigen zu, und...

We develop a tractable framework for the analysis of the relationship between contractual incompleteness, technological complementarities, and technology adoption. In our model a firm chooses its technology and investment levels in contractible activities by suppliers of intermediate inputs....

We present a tractable framework for the analysis of the relationship between contract incompleteness, technological complementarities and the division of labor. In the model economy, a firm decides the division of labor and contracts with its worker-suppliers on a subset of activities they have...