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Trust and the market for technology
Webster, Elizabeth; Jensen, Paul H.; Palangkaraya, Alfons - 2021
Conditional on the decision to enter the market for immature technology, we test for the effects that trust—proxied by … survey responses from 860 university–firm and firm–firm technology transactions, we find that trust matters: parties with …
Persistent link: https://www.econbiz.de/10013322725
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Technology and Skill : Twin Engines of Growth
Stokey, Nancy L. - 2018
A model is developed in which two complementary forms of investment contribute to growth--technology and skill … technology and skill accumulation. Conditions for the existence of a BGP are established, and the effects of various parameters … are characterized. In an example, subsidies to skill acquisition (technology acquisition) are powerful tools for …
Persistent link: https://www.econbiz.de/10012920551
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The Human Cause
Gervais, Daniel J. - 2021
This paper argues that, although AI machines are increasingly able to produce outputs that facially qualify for copyright or patent protection, such outputs should not be protected by law when they have no identifiable human cause, that is, when the autonomy of the machine is such that it breaks...
Persistent link: https://www.econbiz.de/10013225774
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Was Domar right? : serfdom and factor endowments in Bohemia
Klein, Alexander; Ogilvie, Sheilagh C. - 2017
Do factor endowments explain serfdom? Domar (1970) conjectured that high land-labor ratios caused serfdom by increasing incentives to coerce labor. But historical evidence is mixed and quantitative analyses are lacking. Using the Acemoglu-Wolitzky (2011) framework and controlling for political...
Persistent link: https://www.econbiz.de/10011747534
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The Forgotten Discovery of Gravity Models and the Inefficiency of Early Railway Networks
Odlyzko, Andrew - 2016
The routes of early railways around the world were generally inefficient because the prevailing doctrine of the time called for concentrating on provision of fast service between major cities and neglect of local traffic. Modern planners rely on methods such as the "gravity models of spatial...
Persistent link: https://www.econbiz.de/10014142634
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The Complementarity Between Community and Government in Enforcing Norms and Contracts, and Their Interaction with Religion and Corruption
Jackson, Matthew O.; Xing, Yiqing - 2021
We investigate the complementarity between informal communities and formal government enforcement of norms of reciprocation and exchange. We introduce a model in which people exchange informally within their community as well as externally on a market. We show that informal community and formal...
Persistent link: https://www.econbiz.de/10013248657
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A Critical Overview of Islamic Economics from a Welfare-State Perspective
Soldatos, Gerasimos - 2016
This paper builds upon the following critique of Islamic economics: (a) Persistence on the literal interpretation of what the theology of Islamic law implies socioeconomically, (b) Rejection subsequently of the core western economic principle of homo economicus-cum-competition, though homo...
Persistent link: https://www.econbiz.de/10012996721
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Rothbard vs. Strauss : Libertarianism, Rights and Reason
Pearce, Colin D. - 2010
This paper undertakes to make some comparative observations on the thought of Murray N. Rothbard and Leo Strauss. It hinges around Rothbard and Strauss’s different views on such subjects as the philosophy of Hobbes, Locke and Hume, the meaning of natural law, natural rights, and natural...
Persistent link: https://www.econbiz.de/10014197149
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The impact of formal institutions on knowledge economy
Andrés, Antonio R.; Asongu, Simplice A.; Amavilah, … - 2013
Using Kauffman, Kraay, and Mastruzzi governance indicators, this article analyzes the impact of formal institutions on the knowledge economy- by assessing how the enforcement of Intellectual Property Rights (IPRs) through good governance mechanisms affects the knowledge economy. The article also...
Persistent link: https://www.econbiz.de/10011409950
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Political Favoritism Towards Resource Allocation
Liu, Zihua - 2020
We study how political power affects resource allocation for knowledge production dictated by central planning in a non-market system in China. Our empirical results suggest that scholar with political privilege is associated with 15.7% more allocation granted by the National Natural Science...
Persistent link: https://www.econbiz.de/10012850142