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We refine modelling of the radical innovation decision in this paper by extending real option theory to include non … option theory ; technology …
Persistent link: https://www.econbiz.de/10009729702
different firms and firms employing cooperative workers make strictly positive profits. Profit differences across firms persist …
Persistent link: https://www.econbiz.de/10003784391
Community Innovation Survey covering the period 1998-2000. The results of our empirical analysis support our theory …
Persistent link: https://www.econbiz.de/10009727661
Persistent link: https://www.econbiz.de/10001784303
Recent studies indicate that firms often outsource standard and simple tasks, while keeping complex and important inputs inside their boundaries. This observation is difficult to reconcile with the property rights approach of the firm, which suggests that important components should be...
Persistent link: https://www.econbiz.de/10009539235
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In this paper, we present a simple model in which a unionized and non-unionized firm optimally make investment decisions given their labor productivity. By allowing workers' organizations to have positive effects on labor effort, we find that the classic hold-up problem does not necessarily...
Persistent link: https://www.econbiz.de/10012058483
often inconsistent with profit maximization or imply implausibly large profits. The puzzle arises because popular estimators … the restrictions imposed by profit maximization (cost minimization) so that estimators are inconsistent or poorly … rather than production functions and demonstrates that the profit share in revenue is a robust non-parametric economic …
Persistent link: https://www.econbiz.de/10003656928
The capital-to-labor ratio has steadily risen in the U.S. and elsewhere during the post-WWII period. Since the 1970s this rise has been accompanied by a rise in the level and variability of corporate profits whereas the labor share of income has declined. In this paper we ask whether these...
Persistent link: https://www.econbiz.de/10011906166