Showing 1 - 10 of 23,730
We model research as a signal on an unknown parameter of a technology.
Persistent link: https://www.econbiz.de/10005605590
The Information and Communication technology(ICT) environment in the economic community of west african states(ECOWAS) has changed sufficiently to warrant re-conceptualization of the earlier initiatives. Notably, many new technologies have emerged, especially in the area of wireless...
Persistent link: https://www.econbiz.de/10005118855
This paper surveys recent empirical studies exploring aggregate productivity growth based on firm dynamics, focusing on … micro-data from OECD countries. Aggregate productivity growth can be analysed as a sum of two separate processes. <I …>i</I>) Changes in productivity in individual firms at a given size (relative to market). And, <I>ii</I>) a reallocation process due …
Persistent link: https://www.econbiz.de/10005045691
There are historical and institutional reasons behind our economic problems like poverty and environmental damage but it is not acceptable if they persist in years to come. The strategic use of information by individual economic agents establishes a biasing effect on our economy. In case of...
Persistent link: https://www.econbiz.de/10008784638
This paper presents simple su±cient conditions under which optimal bunches inadverse-selection principal-agent problems can be characterized without using optimal controltheory.
Persistent link: https://www.econbiz.de/10009025022
The paper presents a comparative analysis of the peculiar institutional features of two retail markets: the middle eastern Bazaar and the western Mall (shopping center). We study the informational functions and performance of the different market institutions using an Agent Based Computational...
Persistent link: https://www.econbiz.de/10005789361
In real markets, price adjustment and the matching of buyers and sellers involve considerable exchange of information. Previous experience is also important in partner selection and in the decision to accept a transaction. The dynamic processes involved can be described in terms taken from...
Persistent link: https://www.econbiz.de/10005634425
The purpose of this paper is to suggest a view of the economy as a network of links between the individuals involved. One approach is to consider the structure of links as fixed as is the case with spatial models in which agents are situated on a lattice, another is to regard all links as...
Persistent link: https://www.econbiz.de/10005396106
This paper explores the extent to which the presence of ex-ante transaction costs may lead to failures of the Coase Theorem. In particular we identify and investigate the basic ‘hold-up problem’ which arises whenever the parties to a Coasian negotiation have to pay some ex-ante costs for the...
Persistent link: https://www.econbiz.de/10010745037
We identify and investigate the basic ‘hold-up problem’ which arises whenever each party to a contract has to pay some ex-ante cost for the contract to become feasible. We then proceed to show that, under plausible circumstances, a ‘contractual solution’ to this hold-up problem is not...
Persistent link: https://www.econbiz.de/10010745370