Suppose an economy that seeks to maintain, in perpetuity, population size and distributions for income, savings, and consumption. Regardless of births, deaths, retirements, and entry into the work force, asymptotically, there exists an infinite lived agent and only technical change facilitates...

Suppose a firm that produces `manufactureds', and that is located in a `high (production) cost' country is granted a patent and seeks to protect itself against competition which feasibly emerges at expiration of patent protection. Formal theoretical predictions show setting up of production in...

It is well accepted that economic growth that is premised, in entirety, on technical change equates to economic development. This study provides formal theoretical evidence that production functions inherently always are inappropriate to modeling of economic development. In stated respect,...

This study provides formal theoretical evidence that in presence of leverage, share prices cannot be characterized to be robust proxies for product price premiums that are outcomes of firms' corporate reputations. The formal theoretical model predicts proxies for each of corporate reputation,...

Suppose IPO underpricing increases with underwriters' reputation. This study demonstrates higher underpricing is compatible with higher credibility of underwriting by reputable underwriters. Consistent with stated inference, increase in valuation uncertainty risk, and severity of adverse...