On the Competitive Response to Technological Advance

Fathali Firoozi

The American Economist, 1995, vol. 39, issue 2, 61-64

Abstract: When the competitive firm is operating in a stochastic environment and certain conditions regarding expectations and attitude toward risk hold, the response to a neutral technological advance is to reduce factor employment and raise output. The result contradicts the standard deterministic response, which emerges as a special case in the stochastic environment. (JEL, D81)

Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:sae:amerec:v:39:y:1995:i:2:p:61-64

DOI: 10.1177/056943459503900207

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