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Understanding factors affecting the direction of innovation is a central aim of research in the economics of innovation. Progress on this topic has been inhibited by difficulties in measuring distance and movement in knowledge space. We describe a methodology that infers the mapping of the...
Persistent link: https://www.econbiz.de/10013435165
actual meaning and definition of the skills. It allows for the classification of more than 17 000 unique skill keywords … contained in the Burning Glass dataset into 61 categories. The outcome of the classification exercise is validated using O … literature. Compared to a manual classification, the proposed approach organises large amounts of skills information in an …
Persistent link: https://www.econbiz.de/10012801199
Persistent link: https://www.econbiz.de/10014432692
classifying the nature of the firms' relationships (business vs. non-business) using a text-based machine learning classification …
Persistent link: https://www.econbiz.de/10012842460
We describe how recent advances in wearable sensing technology allow for unprecedented accuracy in studies of human behavior, particularly organizational behavior. We use one such platform, the Sociometric badge, to understand organizational behavior in two studies. In the first, we describe the...
Persistent link: https://www.econbiz.de/10012707519
Hedging of illiquid financial instruments is carried out with liquid instruments that, as a rule, have simpler payoff functions. For example, hedging of Asian or long-dated put options is carried out with vanilla puts, hedging of Bermuda swaptions is done with vanilla swaptions, etc. This kind...
Persistent link: https://www.econbiz.de/10013000625
In this paper I provide a new explanation for the increasing inequality between skilled and unskilled. This work introduces a problem solving based model in which agents invest in technological innovations to solve problems and sell their solutions in the market. Each agent has feasible set they...
Persistent link: https://www.econbiz.de/10012910902
This paper presents a theory of technical progress that interprets the price-induced conjecture of Hicks. It provides also an exhaustive set of comparative statics conditions that constitute the scaffolding for an empirical test of the theory. A crucial assumption is that entrepreneurs make...
Persistent link: https://www.econbiz.de/10014062257
An exhaustive comparative statics analysis of a general price taking cost-minimizing model of the firm operating under the influence of price-induced technical progress is carried out from a dual vista. The resulting refutable implications are observable and thus amenable to empirical...
Persistent link: https://www.econbiz.de/10014068818
We analyze the implications of innovation and social interactions on economic growth in a stylized endogenous growth model with heterogenous research firms. A large number of research firms decide whether to innovate or not, by taking into account what competitors (i.e., other firms) do. This is...
Persistent link: https://www.econbiz.de/10014035547