We build a multi-agent model of endogenous technical change in which heterogeneous investments in patented knowledge generate Pareto-Levy and lognormal distributed returns to investment in research from very weak distributional assumptions. Firms produce a homogenous good and a public stock of...

There is a counterintuitive gap in the club theory of religion. While it elegantly accounts for the notable success of strict sectarian religious groups in recruiting members and maintaining commitment, it exhibits less satisfactory properties when used to account for groups requiring neither...