Risk aversion, learning spillovers, and path-dependent economic growth

Authors
Verbrugge, R
Citation
R. Verbrugge, Risk aversion, learning spillovers, and path-dependent economic growth, ECON LETT, 68(2), 2000, pp. 197-202
Citations number
10
Categorie Soggetti
Economics
Journal title
ECONOMICS LETTERS
ISSN journal
01651765 → ACNP
Volume
68
Issue
2
Year of publication
2000
Pages
197 - 202
Database
ISI
SICI code
0165-1765(200008)68:2<197:RALSAP>2.0.ZU;2-5
Abstract
Each agent j epsilon{1,..., N} receives an independent shock influencing he r degree of risk aversion, then undertakes a risky or safe investment. Prio r investment in 'related' industries reduces the uncertainty. The shock his tory and this intertemporal interaction determine the long-run growth rate. (C) 2000 Elsevier Science S.A. All rights reserved. JEL classification: O4 .