Related papers: FDI versus R\&D in an endogenous growth model
Driven by the advancement of GPUs and AI, the field of Computational Fluid Dynamics (CFD) is undergoing significant transformations. This paper bridges the gap between the machine learning and CFD communities by deconstructing…
We distinguish between an internal differentiation of science and technology that focuses on instrumentalities and an external differentiation in terms of the relations of the knowledge production process to other social domains, notably…
This study explores the relationship between personality diversity and national economic performance, introducing the Global Personality Diversity Index (${\Psi}$-GPDI) as a novel metric. Leveraging a dataset of 760,242 individuals across…
In this paper I propose a micro-based innovation driven general equilibrium growth-model allowing for endogenous entry and exit as well as three different types of research. I make the novel distinction between three types of firms, namely…
Regression discontinuity design (RDD) is a quasi-experimental approach to study the causal effects of an intervention/treatment on later health outcomes. It exploits a continuously measured assignment variable with a clearly defined cut-off…
Artificial intelligence (AI) has moved to the center of policy, market, and academic debates, but its macroeconomic footprint is still only partly understood. This paper provides an overview on how the current AI wave is captured in US…
Knowledge spillovers occur when a firm researches a new technology and that technology is adapted or adopted by another firm, resulting in a social value of the technology that is larger than the initially predicted private value. As a…
The article discusses a generalization of model of economic growth with constant pace, which takes into account the effects of dynamic memory. Memory means that endogenous or exogenous variable at a given time depends not only on their…
The spread of COVID-19 and ensuing containment measures have accentuated the profound interdependence among nations or regions. This has been particularly evident in tourism, one of the sectors most affected by uncoordinated mobility…
We propose an evolutionary competition model to investigate the green transition of firms, highlighting the role of adjustment costs, dynamically adjusted transition risk, and green technology progress in this process. Firms base their…
Innovation is to organizations what evolution is to organisms: it is how organisations adapt to changes in the environment and improve. Governments, institutions and firms that innovate are more likely to prosper and stand the test of time;…
Firm clusters are seen as having a positive effect on innovations, what can be interpreted as economies of scale or knowledge spillovers. The processes underlying the success of these clusters remain difficult to isolate. We propose in this…
Artificial intelligence (AI) is advancing exponentially and is likely to have profound impacts on human wellbeing, social equity, and environmental sustainability. Here we argue that the "alignment problem" in AI research is also an…
Deep learning models are widely used in decision-making and recommendation systems, where they typically rely on the assumption of a static data distribution between training and deployment. However, real-world deployment environments often…
The existing theorization of development economics and transition economics is probably inadequate and perhaps even flawed to accurately explain and analyze a dual economic system such as that in China. China is a country in the transition…
We introduce heterogeneous R&D productivities into an endogenous R&D network formation model, generalizing the framework of Goyal and Moraga-Gonz\'alez (2001). Heterogeneous productivities endogenously create asymmetric gains from…
Sustainability initiatives are set to benefit greatly from the growing involvement of venture capital, in the same way that other technological endeavours have been enabled and accelerated in the post-war period. With the spoils…
Universities are racing towards making their campuses and cities smart in response to the global digitalization trend. However, the sustainability impact of Smart Campus research, development, and innovation services on other relevant…
Climate adaptation could yield significant benefits. However, the uncertainty of which future climate scenarios will occur decreases the feasibility of proactively adapting. Climate adaptation projects could be underwritten by benefits paid…
Direct reciprocity is a powerful mechanism for evolution of cooperation based on repeated interactions between the same individuals. But high levels of cooperation evolve only if the benefit-to-cost ratio exceeds a certain threshold that…