In this paper we develop a measure of competition based on management’s disclosures in their 10-K filing and find that firms’ rates of diminishing marginal returns on new and existing investment vary significantly with our measure. We show that these firm-level disclosures are related to existing industry-level measures of disclosure (e.g. Herfindahl index), but capture something distinctly new...

ing as it does from population growth and technical progress, the model does not generate perpetual growth. It does, however, illustrate the role of organizational change in exploiting the gains to labor specialization and, thereby, overcoming diminishing returns to capital. The focus on organization, in turn, highlights the role of transaction costs as a determinant of long run economic perfor...

In intertemporal choice, decision-makers must choose between options whose outcomes occur at different times in the future and are associated with different magnitudes of gain or loss. Previous neuropsychological research on this problem is dominated by a behaviouraleconomic model which proposes that choice outcome is solely determined by a process of devaluing rewards with time, termed tempora...

Peer-to-peer file sharing networks are becoming an important medium for the distribution of information goods. However, there is little academic research into the optimal design of these networks under real-world conditions. Our research represents an initial effort to analyze the impact of positive and negative network externalities on the optimal size of these P2P networks. Our analysis uses ...

Although the link between risk aversion and diminishing marginal utility of wealth is academically well established, theoretical discussions concerning its empirical validity remain. The presented, review-type paper aims to briefly examine roots responsible for different views on this association in order provide a broader perspective alternative explanations. This latter task assisted by compa...

in this paper, we investigate the total variation diminishing property for a class of 2-stage explicit rung-kutta methods of order two (rk2) when applied to the numerical solution of special nonlinear initial value problems (ivps) for (odes). schemes preserving the essential physical property of diminishing total variation are of great importance in practice. such schemes are free of spurious o...

On the Curvature of the Reporting Function from Objective Reality to Subjective Feelings I suggest the idea of a reporting function, r(.), from reality to feelings. The ‘happiness’ literature claims we have demonstrated diminishing marginal utility of income. I show not, and that knowing r(.)’s curvature is crucial. A quasi-experiment on heights is studied. JEL Classification: I3, D1

Evolutionary dynamics is determined by heritable variation between individuals, by variation in reproductive success and by the correlation between these two types of variation. If there is no heritable or no reproductive variation, there is no evolutionary change. If the correlation between heritable trait variation and reproductive variation is zero, evolution is neutral. If this correlation ...