New and old products differ in two respects: quality and newness. Whereas a higher quality of a new product always benefits consumers, the newness itself benefits some consumers, but not others, and for some, it is even a disadvantage. We capture these features in a Hotelling model of...

New and old products differ in two respects: quality and newness. Whereas a higher quality of a new product always benefits consumers, the newness itself benefits some consumers, but not others, and for some, it is even a disadvantage. We capture these features in a Hotelling model of Over-...

Global forces have shaped the world since the indus-trial and digital ages. A recent perspective on globalization acknowledges the growth of three supranational economic, social, and manufacturing blocs, namely the USA, the EU, and most recently, China. In this larger picture China contends with...

Digitisation and the circular economy open the possibility to ensure efficient products and services development, while promoting the sustainable development of social well-being. Despite being an area with high potential for adopting business models that integrate the perspective of the two...

The ability of the U.S. to grow its economy and maintain its global economic strength depends on its ability to develop the "new breed" of technical and non-technical workers who can work across national, organizational, and cultural boundaries. The US economy is not threatened by the increase...

Industrial structures in the "catching up" type of countries usually are not too competitive in nature, and mainly they differ in the low share of hightechnology products in the international trade. The aim of the conducted studies was an attempt to search for directions, as well as the power of...

Occupations and sectors are the two fundamental dimensions of structural change. From the evolution of the high/low-skill employment levels and wage ratio, we can understand which sectors have been undertaking a process of technical change. By using Eu-Silc database we investigate four...

The study considers a stochastic R&D process where the invented production technologies consist of a large number n of complementary components. The degree of complementary is captured by the elasticity of substitution of the CES aggregator function. Drawing from the Central Limit Theorem and...