T he early 1970s witnessed dramatic change in per-capita output and labor-productivity growth rates in the United States. These growth rates averaged 2.2 percent and 2.0 percent, respectively, for the 1950–1969 period compared to 1.3 percent and 0.8 percent for the 1970–1989 period. Aschauer (1989) advances the idea that an important explanatory factor in this productivity slowdown is the gover...

Introduction. Cow longevity is one of the most economically important traits in the beef cow. Longevity is inter-related to other important traits, and, therefore, it is difficult to separate the importance of longevity, itself, from the importance of traits that are related to longevity. For example, reproductive performance is usually part of the culling criteria. It is often stated that repr...

Information Production Processes (IPPs) without low-productive sources are studied. A success-breeds-success or preferential attachment mechanism is established in which, from some point in time on, no new sources are created. Such systems are called mature systems. When time increases in mature systems the expected number of sources with a low number of items strictly decreases. An adaptation ...

We develop a theory of commercialization mode (entry or sale) of entrepreneurial inventions into oligopoly, and show that an invention of higher quality is more likely to be sold (or licensed) to an incumbent due to strategic product market e¤ects on the sales price. Moreover, preemptive acquisitions by incumbents are shown to stimulate the process of creative destruction by increasing the entr...

Organically grown crowdsourcing networks, which includes production firms and social network based crowdsourcing applications, tend to have a hierarchical structure. Considering the entire crowdsourcing system as a consolidated organization, a primary goal of a designer is to maximize the net productive output of this hierarchy using reward sharing as an incentive tool. Every individual in a hi...