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innovation, either to reduce production costs for a given output, to create a new product or service, or to deliver products to …
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This paper studies a model of the distribution of income under bounded needs. Utility derived from any given good reaches a bliss point at a finite consumption level of that good. On the other hand, introducing new varieties always increases utility. It is assumed that each variety is owned by a...
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capital is positively influenced by the size of the R&D sector, sheds new light on innovation and growth as well as income …
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