We develop a simple model of task allocation for knowledge workers over their career within an organization. The human capital theory initiated by Becker (1962, 1964) has o¤ered a rich analysis of an individuals life cycle investment in human capital. One of the main result of this literature...

This paper provides general theorems about the control that maxi- mizes the mixed Bentham-Rawls (MBR) criterion for intergenerational justice, which was introduced in Alvarez-Cuadrado and Long (2009). We establish sufficient concavity conditions for a candidate trajectory to be optimal and...

We propose a new methodology exploring Markov perfect equilibrium strategies in differential games with regime switching. Specifically, we develop a general game with two players having two kinds of strategies. Players choose an action that inuences the evolution of a state variable, and decide...

This paper explores the e¤ect of a potential joint-venture breakup on the level of technology transfer in a set-up with exploration-exploitation trade-offs in the presence of time compression costs. We consider a joint-venture relationship between a technologically advanced multinational firm...