Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/89489 
Erscheinungsjahr: 
2003
Schriftenreihe/Nr.: 
LEM Working Paper Series No. 2002/25
Verlag: 
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM), Pisa
Zusammenfassung: 
The paper presents a model of endogenous growth in which firms are modeled as boundedly-rational, locally interacting, agents. Firms produce a homogeneous good employing technologies located in an open-ended technological space and are allowed to either imitate existing, similar practices or to locally explore the technological space to find new, more productive techniques. We first identify sufficient conditions for the emergence of empirically plausible GNP time-series characterized by self-sustained growth. Then, we study the trade-off between individual rationality and collective outcomes by providing an example in which more rational agents systematically perform worse than less rational ones.
Schlagwörter: 
Innovation
Endogenous Growth
Local Interactions
Exploration vs. Exploitation
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
625.24 kB





Publikationen in EconStor sind urheberrechtlich geschützt.