Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/159751
Authors: 
Andergassen, Rainer
Nardini, Franco
Ricottilli, Massimo
Year of Publication: 
2013
Series/Report no.: 
Quaderni - Working Paper DSE 912
Abstract: 
The paper investigates the mechanics through which novel technological principles are developed and diffused throughout an economy consisting of a technologically heterogeneous ensemble of firms. In the model entrepreneurs invest in the discovery and in the diffusion of a technological principle and their profit flow depends on how many firms adopt the innovation and on how long it takes other entrepreneurs to improve it. We show that technological convergence emerges from the competition among entrepreneurs for the profit flow and characterize the economy's growth rate.
JEL: 
O31
O33
O41
E19
Persistent Identifier of the first edition: 
Creative Commons License: 
https://creativecommons.org/licenses/by-nc/3.0/
Document Type: 
Working Paper

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