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We turn the zero-profit condition that is typically used to determine the number of firms into a game of entry/exit. We assume that identical firms compete in Cournot fashion, and when market …
During the Soviet Union’s First Five-Year Plan, Western know-how and technology were extensively infused into industry through technical assistance agreements and work contracts with specialists and …
Philippe Aghion, Ufuk Akcigit, Ari Hyytinen, and Otto Toivanen
Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish …