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Schumpeterian dynamics and financial market anomalies

Merey, Esther; Hanusch, Horst; Grebel, Thomas - 2004

In this paper we try to put together both the dynamics of the endogenous evolution of an industry and the corresponding dynamics on the capital market. The first module of our modelling efforts is the endogenous evolution of the industry based on the micro-behaviour of boundedly rational agents....

Persistent link: https://www.econbiz.de/10010263021

Weitzman revisited: emission standards vs. taxes with uncertain control costs and market power of polluting firms

Heuson, Clemens - 2008

economic theory has restricted to either of them when submitting conventional policy instruments to a comparative analysis. The …

Persistent link: https://www.econbiz.de/10010266125

Monitoring and privacy in automobile insurance markets with moral hazard

Filipova, Lilia - 2007

This paper considers moral hazard insurance markets when voluntary monitoring technologies are available and insureds may choose the precision of monitoring. Also privacy costs incurred thereby are taken into account. Two alternative contract schemes are compared in terms of welfare: (i)...

Persistent link: https://www.econbiz.de/10010266128

Emission standards vs. taxes: the case of asymmetric Cournot duopoly and uncertain control costs

Heuson, Clemens - 2008

, hitherto environmental economic theory has restricted itself to either of them when submitting conventional policy instruments …

Persistent link: https://www.econbiz.de/10010266129

On the stability of equilibria in replicator dynamics modelling: an application in industrial dynamics considering resource constraints

Klarl, Torben - 2008

Replicator dynamic modelling (rdm) is used to discuss industrial evolution problems with heterogeneous agents. However, some of the models tend to be very complex and, therefore, analytical solutions cannot be obtained. Hence, the paper proposes to start with a relatively simple model and check...

Persistent link: https://www.econbiz.de/10010267054

A neo-darwinian foundation of evolutionary economics: With an application to the theory of the firm

Rahmeyer, Fritz - 2010

theory of innovation and later - based on Penrose - to resource-based theories of the firm. In this the dynamic process of … theory of the firm. …

Persistent link: https://www.econbiz.de/10010270409

Modelling the folk theorem of spatial economics: A heterogeneous regional growth model

Klarl, Torben - 2009

uneven economic distribution of specific economic activity, which implies that knowledge spillover, agglomeration and … distribution of per capita productivity are closely linked. Thus, the aim of this paper is, to introduce a spatial regional growth … model, which links first time knowledge spillover, agglomeration, distribution of per capita productivity and the grasp of …

Persistent link: https://www.econbiz.de/10010270410

Firm heterogeneity, credit constraints, and endogenous growth

Klarl, Torben; Maußner, Alfred - 2010

This paper is concerned with the role of firm heterogeneity under credit constraints for economic growth. We focus on firm size, innovativeness and credit constraints in a semi-endogenous growth model reflecting recent empirical findings on firm heterogeneity. It allows for an explicit solution...

Persistent link: https://www.econbiz.de/10010270411

A Neo-Schumpeterian approach towards public sector economics

Hanusch, Horst; Pyka, Andreas; Wackermann, Florian - 2009

Innovation is the major driver of economic growth and development. To analyze innovation processes the restriction of a framework suited to the analysis of innovation towards the industrial sphere of an economy is not sufficient because of the important co-evolutionary dimensions of innovation....

Persistent link: https://www.econbiz.de/10010270414

Capital/labor substitution, capital deepening, and FDI

Antony, Jürgen - 2007

Empirical studies show that the elasticity of substitution between capital and labor is larger than one in developed countries but smaller in developing countries. This paper develops a production function which allows for this structure in the elasticity of substitution. The case of a falling...

Persistent link: https://www.econbiz.de/10010270602