Commonly increases in total factor productivity (TFP) are associated with technological innovations measured by R&D expenditures. Empirical evidence seems to corroborate this relationship. However, in trading countries like the Netherlands, productivity increases, even in industry, can also be the result of innovations in the way transactions are managed. These innovations reduce transaction co...

In this paper, we develop stability, dissipativity, and optimality notions for dynamical systems with discontinuous vector fields. Specifically, we consider dynamical systems with Lebesgue measurable and locally essentially bounded vector fields characterized by differential inclusions involving Filippov set-valued maps specifying a set of directions for the system velocity and admitting Filipp...