IRIS - Institutional Research Information System
IRIS è il sistema di gestione integrata dei dati della ricerca adottato dalla LUISS Guido Carli. Il Catalogo dei prodotti della ricerca della LUISS raccoglie e rende disponibile, dove possibile nel rispetto del diritto d'autore, la produzione scientifica dei docenti e ricercatori dell'Ateneo. Il Catalogo alimenta inoltre i siti docenti del MIUR.
EnglishWe provide a refoundation of the symmetric growth equilibrium characterizing the research sector of vertical R&D-driven growth models. We argue that the usual assumptions made in this class of models leave the agents indifferent as to where targeting research: hence, the problem of the allocation of R&D investment across sectors is indeterminate. By introducing an "ε-contamination of confidence" in the expected distribution of R&D investment, we prove that the symmetric structure of R&D investment is the unique rational expectations equilibrium compatible with ambiguity-averse agents adopting a maximin strategy.
Scheda prodotto non validato
Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo
| Titolo: | The Refoundation of the Symmetric Equilibrium in Schumpeterian Growth Models |
| Autori: | |
| Data di pubblicazione: | 2007 |
| Rivista: | |
| Abstract: | We provide a refoundation of the symmetric growth equilibrium characterizing the research sector of vertical R&D-driven growth models. We argue that the usual assumptions made in this class of models leave the agents indifferent as to where targeting research: hence, the problem of the allocation of R&D investment across sectors is indeterminate. By introducing an "ε-contamination of confidence" in the expected distribution of R&D investment, we prove that the symmetric structure of R&D investment is the unique rational expectations equilibrium compatible with ambiguity-averse agents adopting a maximin strategy. |
| Handle: | http://hdl.handle.net/11385/7139 |
| Appare nelle tipologie: | 01.1 - Articolo su rivista (Article) |
File in questo prodotto:
| File | Descrizione | Tipologia | Licenza | |
|---|---|---|---|---|
| 1 - Article.pdf | Post-print | DRM non definito | Administrator |
Copyright © 2018