Twin peaks: growth and convergence in models of distribution dynamics

Article Abstract:

The traditional analyses of economic convergence which rely mainly on production-function accounting are criticized for not considering two major factors in economic growth: the growth and convergence mechanisms. To remedy this shortcoming, new approaches to convergence analysis are proposed. These include persistence and stratification, the creation of convergence clubs and the distribution polarizing into twin peaks of rich and poor.

Research, Models, Economic development, Distribution (Economics), Income distribution

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Optimal design of an experiment in economics

Article Abstract:

The optimal design theory is applied in a typical experiment in economics. The gambles are determined by probability distributions for four fixed outcomes. The objective of the experiment is to distinguish to competing theories for the utilities of these gambles. General principles for performing efficient experiments are enumerated for model discrimination and show the benefits through empirical comparison.

Usage, Experimental design, Research design, Structural optimization

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