A Quantal Response Statistical Equilibrium Model of Induced Technical Change in an Interactive Factor Market: Firm-Level Evidence in the EU Economies

A Quantal Response Statistical Equilibrium Model of Induced Technical Change in an Interactive Factor Market: Firm-Level Evidence in the EU Economies

This paper studies the pattern of technical change at the firm level by applying and extending the Quantal Response Statistical Equilibrium model (QRSE). The model assumes that a large number of cost minimizing firms decide whether to adopt a new technology based on the potential rate of cost reduct...

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Bibliographic Details
Main Author: Jangho Yang
Format: Article
Language:English
Published: MDPI AG 2018-02-01
Series:Entropy
Subjects:
induced technical change
statistical equilibrium
bounded rationality
cost minimizing behavior
quantal response
factor price
Online Access:http://www.mdpi.com/1099-4300/20/3/156

Internet

http://www.mdpi.com/1099-4300/20/3/156

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