Dynamic coalitions, growth, and the firm

摘要: The implications of a dynamic coalition production technology are explored. With this technology, coalitions produce the current period consumption good as well coalition-specific capital which is embodied in young members. equilibrium allocation efficient and displays constant growth rates, even though exogenous technological change not feature environment. Unlike neoclassical model, policies influence agents’ investment-consumption decisions affect only level output, but also its rate. In addition to these entailments, theory has equally important industrial organization implications. Specifically, there no tendency for (firm) size regress mean or distribution sizes become more disparate.