Now showing items 91-100 of 127
Solow's Harrod: Transforming Cyclical Dynamics into a Model of Long-Run Growth
(Economic Research Initiatives at Duke (ERID), 2013-03-27)
Modern growth theory derives mostly from Robert Solow’s “A Contribution to the Theory of Economic Growth” (1956). Solow’s own interpretation locates the origins of his “Contribution” in his view that the growth model of ...
Mixture-Averse Preferences and Heterogeneous Stock Market Participation
(Economic Research Initiatives at Duke (ERID), 2016-09-09)
To study intertemporal decisions under risk, we develop a new recursive model of non-expected-utility preferences. The main axiom of our analysis is called mixture aversion, as it captures a dislike of probabilistic mixtures ...
McCarthyism and the Mathematization of Economics
(Economic Research Initiatives at Duke (ERID), 2016-02-18)
Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists’ ...
A Theory of Subjective Learning
(Economic Research Initiatives at Duke (ERID), 2012-08-31)
We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We derive two utility representations of preferences over menus of acts that capture the ...
The Role of Royalties in Resource Extraction Contracts
(Economic Research Initiatives at Duke (ERID) Working Paper, 2015-09-30)
The manner in which governments charge mineral resource producers has been the subject of considerable debate. In particular, there is a continuing debate about whether royalties should be reduced or eliminated, the preferred ...
Carbon markets: effective policy?--Response.
On Asynchronicity of Moves and Coordination
(Economic Research Initiatives at Duke (ERID), 2015-03-23)
This paper shows that asynchronicity of moves can lead to a unique prediction in coordination games, in an infinite-horizon setting, under certain conditions on off-equilibrium payoffs. In two-player games we derive necessary ...
Innovation and International Competitiveness in Pharmaceuticals
(Evolving Technology and Market Structure: Studies in Schumpeterian Economics, 1990)
Climate Technology Research, Development, and Demonstration: Funding Sources, Institutions, and Instruments
(Assessing U.S. Climate Policy Options: A Report Summarizing Work at RFF as Part of the Inter-Industry U.S. Climate Policy Forum, 2007)