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Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter...
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We develop a theory of firm scope in which integrating two firms into one facilitates the allocation of resources, but …. This effect exists even though with perfect information, centralized resource allocation would improve the managers …
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Ideas are different from nearly all other economic goods in that they are nonrivalrous. This nonrivalry implies that production possibilities are likely to be characterized by increasing returns to scale, an insight that has profound implications for economic growth. The purpose of this chapter...
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