Learning-by-doing and the choice of technology: the role of patience

Article Abstract:

The model of learning-by-doing developed by B. Jovanovic and Y. Nyarko has been amended by including forward looking companies. It is suggested that, when skills are not fully transferable across generations of technology, enhanced familiarity with an existing technology may make upgrading easier. More skill at using the existing technology also produces a higher opportunity cost of upgrading.

Technology Transfer Control, Models, Export controls, Technology transfer

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High bids and broke winners

Article Abstract:

Research into auctions where budget-limited bidders have options to declare bankruptcy is presented. This research shows the seller's incentive to provide financing. This incentive emerges because an interest subsidy to the highest bidder would boost bidders' competition.

Economic Statistics & Research, Research, Economic conditions, Auctions

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Time-consistent policies

Article Abstract:

The development of time consistent economic policies is discussed.

Strategy & planning, Economic Programs, Administration of Economic Programs, Planning, Economic policy, Company business planning

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