A simple mathematical model describing the diffusion of a new, infrequently purchased product is proposed. Many previous papers have reported that the differing behaviour of quot;innovatorsquot; and quot;imitatorsquot; is fundamental to the diffusion process. However, previous models have failed...

Governments in modern economies devote much policy attention to enhancing productivity and continue to emphasize its drivers such as investment in R&D. This paper analyzes the relationship between productivity growth and levels of R&D investments. The econometric analysis shows that more than 65...