Gerlach, Heiko; Rønde, Thomas; Stahl, Konrad O. - Volkswirtschaftliche Fakultät, … - 2005
We investigate firms’ incentives to locate in the same region to gain access to a large pool of skilled labor. Firms engage in risky R&D activities and thus create stochastic product and implied labor demand. Agglomeration in a cluster is more likely in situations where the innovation...