We introduce a tractable model of endogenous growth in which the returns to innovation are determined by the technology … adoption decisions of the users of new technologies. Technology adoption involves an implementation investment that determines … the initial productivity of a new technology. After implementation, learning increases the productivity of a technology to …

the economy with lags, since firms need to first adopt the new technologies through investment. The process of adoption … into assets in place. This process can help provide a unified, investment-based view of some well documented phenomena such …

We estimate the effects of technology investments on the demand for skilled workers using longitudinally integrated … unobservable components within each business for each year from 1992 to 1997. We measure technology using variables from the Annual … between advanced technology and skill in a cross-sectional analysis of businesses in both sectors. The more comprehensive …

a new technology efficiently can explain a set of observations regarding within and cross-country patterns of technology …) why inefficient technology use may take over a market even when better practice is available, (2) why widespread … technologies is more likely to occur where the existing technology is already productive, where wages are already relatively high …

agent can choose among various technologies. The beneficial effects of learning by doing are bounded on each technology, and … repeatedly uses a technology, he learns about its unknown parameters, and this accumulated expertise is a form of human capital …-capital-poor agent, who because of his lack of skill is not so attached to any particular technology, can find it optimal to switch …

incentives to prevent harm, or not to engage in harmful activities, provided that they have at least the required level of assets …

the costs associated with investment in fiber-optic networks are likely recoverable in some markets, but that there is a … large gap between social and private incentives to invest …

and its investment decisions leads to a systematic premium in the firm's share price relative to expected dividends. Noisy …'s decisions to their own benefit. The managers take advantage of shareholders by taking excessive investment risks when the market …

the present value of the returns from an initial investment of [1pound], using the social discount rate, should be equal … revisions in evaluating the neutrality of different incentives. Another point we would make is that Boadway's results depend … these important elements of the problem, general results about the neutrality of different incentives can no longer be …

How do public and private information affect equilibrium allocations and social welfare in economies with investment …