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The analysis in this paper shows that unpredictable variations in economic productivity may have a positive or negative …. Empirical studies concerning these two factors indicate that unpredictable variations in economic productivity have a negative …
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How does risk or uncertainty in the productivity of research affect the growth rate of the economy? To answer this …&D from profit-maximizing firms. The uncertainty arises from the productivity of these investments in R&D. The main result of … this analysis is that the relationship between long-run growth and uncertainty (on the productivity of knowledge creation …
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Sequential innovation, where a new product is developed to replace an existing product, creates several logistical challenges for innovating firms. We consider a firm that has to make the end-of-life inventory decision (or final build) for an existing product before identifying key performance...
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