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Neoclassical convergence versus technological catch-up : a contribution for reaching a consensus

Desdoigts, Alain - 2000

world income distribution dynamics. Formal statistical hypothesis tests allow us to discriminate between two competing … evidence suggests that the high social returns to investment in equipment (as opposed to structure) reflect technology transfer … contributes to the polarization of the world income distribution. -- economic growth ; neoclassical convergence ; technological …

Persistent link: https://www.econbiz.de/10009583880

Growth regression and counterfactual income dynamics

Desdoigts, Alain - 2000

Persistent link: https://www.econbiz.de/10009611551

No free lunch for large investors

Bank, Peter - 1999

We study an extension of the classical B1ack-Scholes model which accounts for feedback effects from trading in an imperfectly elastic market. The proposed semi-martingale model may be viewed as a compromise between the diffusion approach in, e.g., (Cuoco and Cvitanic 1998), (Cvitanic and Ma...

Persistent link: https://www.econbiz.de/10009580477

Profitable horizontal mergers : a market structure-oriented view

Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000

We propose a model in which mergers exert a more pronounced effect on the structure of a market than simply reducing the number of competitors. We show that this may render horizontal mergers profitable and welfare-improving even if costs are linear. The results help to reconcile theory with...

Persistent link: https://www.econbiz.de/10009583894

Presents or investments? : an experimental analysis

Genîzî, Ûrî; Güth, Werner; Verboven, Frank - 1998

.’s investment game by introducing an upper bound to what a contributor can be repaid afterwards. By varying this upper bound …

Persistent link: https://www.econbiz.de/10009578011

Optimal consumption choice for ratchet investors

Riedel, Frank - 2001

The utility maximization problem of "ratchet investors" who do not tolerate any decline in their consumption rate is solved explicitly for all felicity functions in a Markovian framework which includes Brownian motion and Poisson processes as special cases. The optimal consumption plan turns out...

Persistent link: https://www.econbiz.de/10009616776

Trust and reciprocity in the investment game with indirect reward

Güth, Werner; Königstein, Manfred; Marchand, Nadège; … - 2000

contracting is infeasible. One example is the study by Berg et al. (1995) of the investment game. In this game the person who … receives the investment is the one who may reward the investor. This is a direct reward game. Similar to Dufwenberg et al … investor may only be rewarded by a third person who did not receive his investment. Furthermore we investigate the influence of …

Persistent link: https://www.econbiz.de/10009612013