Growth, competition and welfare

Article Abstract:

A mathematical model is developed to test the effects of the 'cost' of innovation in a market characterized by tough competition and diversified products. 'Cost' of innovation is found to govern the number of firms participating in the competitive market and the size of each firm participating in the market. The model also shows these firms investing heavily in manufacturing research and development to effect cost controls in production and increase profit margins.

MISCELLANEOUS MANUFACTURING INDUSTRIES, Manufacturing NEC, All Other Miscellaneous Manufacturing, Econometrics & Model Building, Manufacturing industry, Manufacturing industries, Competition (Economics), Economic aspects, Industrial research, Econometrics, Business models

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Economic efficiency and ethics

Article Abstract:

The New Institutional Economics widens the concept of economics efficiency and equity by addressing the effects of opportunist behaviour emphasizing on institutional arrangements that could develop efficiency such as cooperation. The evolutionary game theory suggests that attitudes toward honesty and dishonesty are influenced by economic success. This indicates that economics and ethics are closely associated.

Economics, Research and Development in the Social Sciences and Humanities, Analysis, Ethical aspects, Efficient market theory

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Reconstructing growth theory: a survey

Article Abstract:

Economic growth models in which technological change indirectly arises from certain economic activities were discussed. In addition, other models involving direct stimulation of technological improvement were also presented. Discussions of these economic models were primarily concentrated on applications to closed economies.

Influence, Economic development, Technological innovations

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