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The structure of a social dilemma lies behind many environmental problems. Mingling temporal aspects of resources with the structure of the social dilemma often leads to wrong conclusions. Therefore, it is worth analytically separating temporal aspects from structural aspects of the dilemma....
Persistent link: https://www.econbiz.de/10010266983
This research investigates the hypothesis that publicly funded scientific research complements private R&D investment in the pharmaceutical industry. New microlevel data on public research investment by the U.S. National Institutes of Health allow measures of basic and clinical research in seven...
Persistent link: https://www.econbiz.de/10010297487
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Due to globalization competitive firms face increasing economic opportunities for locating their activities in countries, regions and cities that provide the best business environment for their specific needs. In our study we focus on the impact of economic risk and risk preferences upon...
Persistent link: https://www.econbiz.de/10010308305
We present an intertemporal consumption model of consumer investment in financial literacy. Consumers benefit from such investment because their stock of financial literacy allows them to increase the returns on their wealth. Since literacy depreciates over time and has a cost in terms of...
Persistent link: https://www.econbiz.de/10010308561
This paper proposes a theory for the gradual evolution of knowledge diffusion and growth over the very long run. A …
Persistent link: https://www.econbiz.de/10010311672
expectancy. We integrate the theory into a unified growth model and reestablish increasing life expectancy as an engine of long …
Persistent link: https://www.econbiz.de/10010311688
This paper develops an open economy portfolio balance model with endogenous asset supply. Domestic producers finance capital goods through credit and bonds in accordance with debt capital costs as well as through equity assets. Private households hold a portfolio of domestic and foreign assets,...
Persistent link: https://www.econbiz.de/10010311698
into standard labor supply theory, (i) the wage rate under-estimates (over-estimates) the true value of nonwork … differs from standard theory. We also identify conditions under which a greater nonpecuniary work incentive generates a larger …
Persistent link: https://www.econbiz.de/10010312270