Suppose consumers value products solely because they purvey `characteristics', ζ, which composed with time are sources of utility. Necessarily, there exists a `consumption technology (CT)', and `innovation technology (IT)' serves for the satisfaction of CT. This study arrives at an equilibrium...

Suppose a firm that produces `manufactureds', and that is located in a `high (production) cost' country is granted a patent and seeks to protect itself against competition which feasibly emerges at expiration of patent protection. Formal theoretical predictions show setting up of production in...

This paper provides evidence that venture capitalists' (VCs') market reputation consists of two components: an expected component derived from "expectations about VCs' ability to deliver relatively safe ventures to market" and an unexpected component derived from "unanticipated improvements in...

This study provides formal theoretical evidence that, in of itself, and subsequent to the first day of trading, applications of the Gordon Growth Model to pricing of publicly traded equity incorporate informational `noise' and/or `shading of information' that, theoretically, are unbounded....

This study formally and theoretically juxtaposes `speed of navigation' of the general equilibrium growth path (equivalently, a `low-high' innovation system), and `quality of innovations' (equivalently, a `top-down' innovation system) as alternate strategies for minimization of the time it takes...

This study provides formal theoretical evidence that the concept of 'rates of innovation' is not amenable to imposition of any preference structure, as such is misleading and non-robust. Dearth of robustness derives from the finding that a decreasing rate of innovation can be shown to be...

This study develops a general equilibrium model within which self revelation of ability - that is not accompanied by any signaling - is compatible with arrival at rational expectations equilibriums (REE). In the model, economic agents either are 'confident', 'overconfident', or 'under-confident'...

This study develops a new formal theoretical rubric for ranking of proxies for institutional factors that, conceptually, have taxonomy of either of facilitators of, or constraints on economic development. Illustrative implementations of the formal theoretical rubric reveal that spending on each...

Absent superior performance with respect to 'Portfolio Innovation Focus' (unexpected innovation), this study finds 'less experienced' ('competing') VCs, which only coinvest with other less experienced VCs, become less reputable than alternate less experienced ('non-competing') VCs who coinvest...