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The building blocks of our model are bounded-rational actors with specific sets of endowments: ’entrepreneurial spirit’, human capital and venture capital. The entrepreneurial behavior to found a firm is triggered by the individuals’ endowments, their social network and the evaluation of...
Persistent link: https://www.econbiz.de/10010291683
Technological progress in the biological sciences is now advancing across such a wide range and at such a pace, that, irrespective of size, no firm can hope to keep up in all the different areas. Participating in innovation networks, bundling of competencies and capabilities, therefore, offers...
Persistent link: https://www.econbiz.de/10010291700
The question whether technological progress displaces employment or whether technological advance is beneficial for the level of employment has been in the core of economic dispute for over two centuries. The beneficial might be achieved by several compensation mechanisms within the economic...
Persistent link: https://www.econbiz.de/10010291721
The tremendous development of an easy access to computational power within the last 30 years has led to the widespread use of numerical approaches in almost all scientific disciplines. The first generation of simulation models was rather focused on stylized empirical phenomena. With agent-based...
Persistent link: https://www.econbiz.de/10010263008