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Project Evaluation and Organizational Form

Gehrig, T and R�gibeau, P and Rockett, K (1998) Project Evaluation and Organizational Form. UNSPECIFIED. C.E.P.R. Discussion Papers 1888.

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Abstract

This paper analyses the impact of inequality on growth when technical progress is driven by innovations. It is assumed that consumers have hierarchic preferences. As a result inequality affects demand and therefore the incentive to innovate. Whether more inequality is harmful or beneficial for growth depends on the initial distribution. Complementarities between a technical and a pecuniary externality resulting from the innovation process may generate multiple equilibria. Redistribution may push an economy trapped in underdevelopment to a high-growth regime.

Item Type: Monograph (UNSPECIFIED)
Uncontrolled Keywords: imperfect communication; Imperfect Information; organizational form
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 12 Jul 2012 11:59
Last Modified: 17 Aug 2017 18:11
URI: http://repository.essex.ac.uk/id/eprint/2833

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