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dc.contributor.authorCOZZI, Guido
dc.contributor.authorGIORDANI, Paolo
dc.contributor.authorZAMPARELLI, Luca
dc.date.accessioned2007-10-23T12:02:46Z
dc.date.available2007-10-23T12:02:46Z
dc.date.issued2007
dc.identifier.citationJournal of Economic Theory, 136, 1, 2007, 788-797en
dc.identifier.urihttp://hdl.handle.net/1814/7224
dc.description.abstractWe 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 “-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 maxmin strategy.en
dc.language.isoenen
dc.relation.ispartofJournal of Economic Theory
dc.titleThe Refoundation of Symmetric Equilibrium in Schumpeterian Growth Modelsen
dc.typeArticleen
dc.neeo.contributorCOZZI|Guido|aut|
dc.neeo.contributorGIORDANI|Paolo|aut|
dc.neeo.contributorZAMPARELLI|Luca|aut|
dc.identifier.volume1
dc.identifier.startpage788
dc.identifier.endpage797


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