We develop a generalized production framework with endogenous production techniques that serve to organize raw factor inputs in an efficient manner. We establish a positive relationship between production flexibility and cost efficiency. By allowing firms to differ in technology scales, capital...

Extant research on R&D internationalization has not examined how effective foreign R&D investments are in generating positive returns for the investing firms, in particular in comparison and conjunction with the effects of domestic R&D investments. We examine the effectiveness of international...

This paper studies the effect of differences in the rate of technological progress between sectors on the relative sizes of those sectors in terms of revenues. There are two sectors: a stagnant sector, where productivity does not change over time, and a progressive sector, where costs decrease...

In certain models of commodities produced by means of commodities, the choice of technique is analyzed by the construction of the wage frontier. This article presents a numeric example of a continuum of wage curves tangent at a switch point. Technological progress leads to the recurrence of...

We apply the perspectives of social ontology and the “Brisbane Club” of evolutionary economists to characterise the economics of artificial intelligence technology. We consider the nature of artificial intelligence and defend the notion that it is a technology which seeks to replicate the...

This paper analyzes a special type of technology evolution, referred to in the literature as disruptive technology vs. sustaining technology. In general, ldquo;oldrdquo; products based on sustaining technology are perceived to be superior to the ldquo;newrdquo; ones based on disruptive...

Anecdotal evidence suggests that producers of information products (TV programs, movies, computer software) may respond to potentially cost saving technological change by increasing, rather than reducing, their total production investments in the quot;first copyquot; of each product, possibly at...

This paper analyzes the effects of investment in information technologies (IT) in the financial sector using micro-data from a panel of 600 Italian banks over the period 1989-2000. Stochastic cost and profit functions are estimated allowing for individual banks' displacements from the best...

We extend the agglomeration economies literature (1) by comparing the effects on productivity of geographic concentrations in IT activity and all other activity and (2) by distinguishing between the effects of IT-producing and IT-using sectors on productivity. Four measures of agglomeration for...