Returns to scale generated from uncertainty and complementarity
Article Abstract:
A rationale for U-shaped long-run average cost curves is provided; increasing returns to scale are not caused by indivisibilities and decreasing returns to scale by a fixed factor. The model demonstrates, in agreement with the Austrian view of capital, that time is important for production of capital goods.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2004
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The evolution of honesty
Article Abstract:
Analysis of a model of the cultural co-evolution of honesty and capital is presented. The signs of the payoff differential between honest and dishonest types that depends on the ratio of benefits that an employee gets from shirking to the resulting loss of revenue to the firm is shown.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2004
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Time is money-time pressure, incentives, and the quality of decision-making
Article Abstract:
The effects of time pressure on the decision making capability of an individual, with regard to beauty-contest game, are presented.
Publication Name: Journal of Economic Behavior & Organization
Subject: Economics
ISSN: 0167-2681
Year: 2006
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