Rigotti, L.; Ryan, M.; Vaithianathan, R. - Tilburg University, Center for Economic Research - 2001
residual profits, utilizes an uncertain technology and hires a worker who may only be partially isolated from uncertainty … endogenous, depending on both the entrepreneur's prior beliefs about the profitability of the technology, as well as the worker …'s willingness to work with the uncertain technology.The general equilibrium setting allows us to explore the impact of innovation on …