Endogenous Technical Change in a Competitive Economy Hellwig, Martin; Irmen, Andreas

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Hellwig, Martin ; Irmen, Andreas
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Journal of Economic Theory
Economic development -- Models; Organizational change -- Models; Business Methods
A model of endogenous growth in an economy with competitive markets is presented. This work challenges the widely-held view that endogenous technical change can only take place if innovating companies can expect to gain monopoly or oligopoly rents. It is suggested that there may be a systematic link between innovation technologies and the development of the distribution of production units and companies.
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