One of the leading theories of entrepreneurship is that less risk averse individuals become entrepreneurs and more risk averse individuals become their employees. Kihlstrom and Laffont (1979) formalized this insight in an elegant and widely taught general equilibrium model. However, their model...

Literature review on the status of consumption difference of rural residents and its causation analysis is carried out. Researches introduce the status and causation of consumption cap in rural residents from different aspects, which mainly analyze the obsolete data from the macroscopic angle by...

Incomplete information creates matching friction that interferes with the ability of prices to allocate scarce resources across countries but can be overcome by international information--sharing networks. When the difference between country factor--endowment ratios is large relative to network...

Motivated by a characteristic way in which firms in developed countries make their decisions regarding cooperation with potential partners from less developed countries, we design a simple model of a DC firm's search for an LDC partner/supplier and the subsequent relationship between the two...

The commonly observed positive relationship between openness and growth is consistent with many theories of economic growth and thus does not provide direct evidence in support of any one of them. Quah and Rauch (1990), however, imply that increased specialization accelerates productivity growth...