실증 상고사

The_Replacement_Effect_is_Wrong.hwp AER's Referee Report.pdf Abstract Reinganum (1983, 1985) suggested the replacement effect. It has been accepted generally. But this common belief is wrong. Gilbert and Newbery (1984) and Yi (1995) say the replacement effect stems from Reinganum model's peculiarity. But Reingaum's replacement effect is only a calculation error. Reinganum considers three cases;..

The Business-Stealing Effect is Wrong.hwp JEL Classification: O33, O40, D60 Keywords: business stealing effect, pecuniary externality, innovation, endogenous growth, hazard rate Abstract Now it is believed that if the innovation is drastic and so it makes the existing technology useless, then there is the possibility of more R&D than socially optimum, for researchers do not internalize the dest..