We develop a model with finite number of multiproduct firms together continuum single-product and study the dynamics that arise from product innovation. Consistent available evidence, predicts rising markups concentration declining labor share. Our predict possibility an inverted-U relationship between productivity span, for which we provide suggestive evidence. In optimal allocation, span are ...

We consider the uncertainty of theoretical calculations for a specific difference of the hyperfine intervals in the 1s and 2s states in a light hydrogen-like atom. For a number of crucial radiative corrections the result for hydrogen atom and helium ion appears as an extrapolation of the numerical data from medium to low Z. An approach to a plausible estimation of the uncertainty is suggested u...

This paper shows that patients with private health insurance (PHI) are being offered significantly shorter waiting times than patients with statutory health insurance (SHI) in German acute hospital care. This behavior may be driven by the higher expected profitability of PHI relative to SHI holders.Further,we find that hospitals offering private insurees shorter waiting times as compared to SHI...

We report an experiment designed to study whether inefficient firms are systematically driven from overcrowded markets. Our data set includes a series of 3,800 wars of attrition of a type modeled by Fudenberg and Tirole in 1986. We find that exit tends to be efficient and exit times conform surprisingly well to point predictions of the model. Moreover, subjects respond similarly to implementati...

A parallel algorithm for the enumeration of isolated connected clusters on a regular lattice is presented. The algorithm has been implemented on 17 RISCbased workstations to calculate the perimeter polynomials for the plane triangular lattice up to clustersize s = 21. New data for perimeter polynomials D s up to D21, total number of clusters gs up to g22, and coefficients b~ in the low-density ...

This paper computes optimal top marginal tax rates in Bewley-Huggett-Aiyagari–type economies that include entrepreneurs. Consistent with the data, entrepreneurs are overrepresented at of income distribution and thus disproportionately affected by an increase rate. The rate maximizes welfare is 60 percent. While average gains positive similar across occupations along transition, they larger for ...

We study how opening to trade affects economic growth in a model where heterogeneous firms can adopt new technologies already use by other their home country. characterize the rate using summary statistic of profit distribution: mean-min ratio. Opening increases spread through increased export opportunities and foreign competition, induces more rapid technology adoption, generates faster growth...

Is firm behavior mainly driven by its environment or rather the characteristics of managers? We develop a cognitive theory manager fixed effects, where allocation managerial attention determines behavior. show that in complex environments, endogenous exacerbates effects. Small differences expertise then may result dramatically different behavior, as managers devote scarce way amplifies initial ...

In this paper I prove a Folk theorem with T -private communication equilibria with an imperfect monitoring structure that may be public, private, and conditionally dependent or independent. I show that an efficient outcome is approachable as players become patient if every disobedience from efficiency is detectable by some player and some not necessarily efficient action profile. I also show th...