Optimum consumption and portfolio rules in a continuous-time model

Theory of the firm: Managerial behavior, agency costs and ownership structure

A BEHAVIORAL MODEL OF RATIONAL CHOICE

Introduction, 99. — I. Some general features of rational choice, 100.— II. The essential simplifications, 103. — III. Existence and uniqueness of solutions, 111. — IV. Further comments on dynamics, 113. — V. Conclusion,…

A Model of Growth Through Creative Destruction

This paper develops a model based on Schumpeter's process of creative destruction. It departs from existing models of endogenous growth in emphasizing obsolescence of old technologies induced by the accumulation of know…