Endogenous technical change in a competitive economy
Article Abstract:
A model of endogenous growth in an economy with competitive markets is presented. This work challenges the widely-held view that endogenous technical change can only take place if innovating companies can expect to gain monopoly or oligopoly rents. It is suggested that there may be a systematic link between innovation technologies and the development of the distribution of production units and companies.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2001
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Fully revealing outcomes in signalling models: an example of nonexistence when the type space is unbounded
Article Abstract:
An analysis of a signalling model is presented. The economic model assumes the absence of Spencian variables, which refers to a lack of full revelation, incentive compatibility, individual rationality and zero profits for uninformed agents. It is shown that the model meets all assumptions of signalling models except for the presence of an unbounded type space for economic agents.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1992
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Competition in multi-characteristics spaces: hotelling was almost right
Article Abstract:
Product differentiation is reduced to a primary characteristic when firms compete in a multi-characteristics space. If the salience coefficient is large, companies will choose to emphasize differentiation in the dominant characteristic and de-emphasize differentiation in the rest. This indicates that standards based on locations and prices become inapplicable.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1998
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