The past century and a quarter has seen frequent improvements in track and field records. We attempt to estimate what proportion of the speed of record breaking is due to globalization (competitors from more countries) and what proportion is due to technological progress (better equipment and...

This paper presents a dynamic model that analyzes how firms' expectations with regards to technological change influence the demand for outsourcing. We show that outsourcing becomes more beneficial to the firm when technology is changing rapidly. As the pace of innovations in production...

We present a dynamic model where the probability of outsourcing production is increasing in the firm's expectation of technological change. As the pace of innovations in production technologies increases, the less time the firm has to amortize the sunk costs associated with purchasing and...