Showing 1 - 10 of 174
While the cumulative nature of knowledge is recognized as central to economic growth, the microeconomic foundations of … knowledge of high intrinsic quality. Second, an institution may have a marginal impact -- an incremental influence on … cumulativeness, conditional on the type and quality of knowledge considered. This paper distinguishes these effects in the context of …
Persistent link: https://www.econbiz.de/10012466142
Commercializing knowledge involves transfer from discovering scientists to those who will develop it commercially. New … opportunities if high. Hence new knowledge remains naturally excludable and appropriable. Team production allows more knowledge … capture of tacit, complex discoveries by firm scientists. A robust indicator of a firm's tacit knowledge capture (and strong …
Persistent link: https://www.econbiz.de/10012470219
How large are spatial barriers to transferring knowledge? We analyze the international operations of multinational … firms to answer this fundamental question. In our model firms can transfer bits of knowledge to their foreign affiliates in … either embodied (traded intermediates) or disembodied form (direct communication). Knowledge transfer costs interact with the …
Persistent link: https://www.econbiz.de/10012463140
The rate of regional growth of new knowledge in the field of nanotechnology, as measured by counts of articles and … stocks of recorded knowledge in all scientific fields, and the extent to which tacit knowledge in all fields flows between … patenting. The data provide further support for the cumulative advantage model of knowledge production, and for ongoing efforts …
Persistent link: https://www.econbiz.de/10012465992
This paper examines patterns of knowledge diffusion from US and Japan to Korea and Taiwan using patent citations as an … indicator of knowledge flow. We estimate a knowledge diffusion model using a data set of all patents granted in the U.S. to … inventors residing in these four countries. Explicitly modeling the roles of technology proximity and knowledge decay and …
Persistent link: https://www.econbiz.de/10012470190
This paper examines a model of dynamic price adjustment based on the assumption that information disseminates slowly throughout the population. Compared to the commonly used sticky-price model, this sticky-information model displays three, related properties that are more consistent with...
Persistent link: https://www.econbiz.de/10012470434
We model home country familiarity with business opportunities in a foreign country as a parameter in a matching process between domestic and foreign firms. We show that as familiarity increases the effect of relative national labor supplies on relative national wages declines, the elasticity of...
Persistent link: https://www.econbiz.de/10012471096
A number of theories have been proposed to explain the medium-term momentum in stock returns identified by Jegadeesh and Titman (1993). We test one such theory--based on the gradual-information-diffusion model of Hong and Stein (1997)--and establish three key results. First, once one moves past...
Persistent link: https://www.econbiz.de/10012472255
This paper describes information exchange under the Sugar Institute, the trade association of U.S. domestic sugar cane refiners, between 1928 and 1936. The Institute collected production and delivery data from the individual firms and returned it to them in aggregated form. Attempts to exchange...
Persistent link: https://www.econbiz.de/10012472840
We model the arrival of heterogeneous information in a financial market as a doubly-stochastic Poisson process (DSPP). A DSPP is a member of the family of Poisson processes in which the mean value of the process itself is governed by a stochastic mechanism. We explore the implications for...
Persistent link: https://www.econbiz.de/10012472871