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Evolutionary Models Of Market Behavior, Guo Ying Luo
Evolutionary Models Of Market Behavior, Guo Ying Luo
Digitized Theses
This thesis consists of three evolutionary models examining market behavior.;Profit maximization is the usual prerequisite for achievement of competition. However, for a long time it has been thought that this principle of profit maximization can be replaced by natural selection. In an evolutionary model of an industry, where firms' outputs are chosen randomly, where entry occurs with no motivation and where exit occurs when a firm's wealth becomes negative, the first paper shows that the industry converges in probability to a perfectly competitive equilibrium as firms get infinitesimally small relative to the market, as the entry fixed costs get sufficiently …
Essays On R&D And Economic Growth, Jinli Zeng
Essays On R&D And Economic Growth, Jinli Zeng
Digitized Theses
This thesis consists of three essays on R&D and economic growth. The objective is to study the relationship between human capital accumulation, human capital allocation and R&D, on the one hand, and economic growth and welfare on the other.;The first essay, entitled "Capital Accumulation, R&D and Economic Growth", integrates two distinct categories of endogenous growth models (the capital-based models and the ideas-based models). A dynamic general equilibrium model is developed, in which both physical and human capital accumulation and investment in R&D are endogenously determined, and successful innovations not only discover new goods and destroy the old counterparts, but also …
Essays In Unemployment And Unemployment Insurance, Guang-Jia Zhang
Essays In Unemployment And Unemployment Insurance, Guang-Jia Zhang
Digitized Theses
This thesis examines several issues surrounding the causes of aggregate unemployment that relate to both individual work, rest, and search activities, and inter-industry labor reallocation process. On the other hand, this thesis also explores how heterogenous agents (employed and unemployed) react to a given unemployment insurance program as well as its welfare consequences within a general equilibrium search model.;The research in the first chapter is motivated by the three key features of the employment process in the U.S. economy: (1) job creation is procyclical, (2) job destruction is countercyclical, and (3) job creation is less volatile than job destruction. These …