Returns to scale and the random production of innovations

Louis Corriveau

Mathematical Social Sciences, 2016, vol. 84, issue C, 134-137

Abstract: I define constant, increasing and decreasing returns to scale in the production of innovations that occur randomly with a probability that depends upon resources spent in research. I analyse the mathematical representations of random processes of innovation that exhibit constant, increasing or decreasing returns to scale in that sense and determine their respective functional forms. I also give two complementary conditions, which are respectively sufficient for increasing returns to scale, and decreasing returns. Finally, as a particular case, I show processes that use only one factor of innovation and satisfy constant returns form a one—parameter family.

Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165489616301263
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:matsoc:v:84:y:2016:i:c:p:134-137

DOI: 10.1016/j.mathsocsci.2016.10.003

Access Statistics for this article

Mathematical Social Sciences is currently edited by J.-F. Laslier

More articles in Mathematical Social Sciences from Elsevier
Bibliographic data for series maintained by Catherine Liu ().