Technology Imports and Decision Criteria of the Schumpeterian Entrepreneur under Uncertainty
- 서울대학교 경제연구소
- Seoul Journal of Economics
- Seoul Journal of Economics Volume 2 No.2
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1989.06189 - 207 (18 pages)
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While, suprisingly, in discussion of technology trade little attention has been focused on the behavior of the technology-importer, this paper shows that there can exist different sets of decision criteria for a Schumpeterian entrepreneur who imports foreign technology under uncertainty. A Schumpeterian entrepreneur has four sets of decision criteria: 1) the existence of potential bound for the effective gross output net of royalties; 2) the shape of randomness-indifference locus; 3) the evaluation of the magnitude of boundedness in the effective gross output net of royalties; 4) the market interest rate.
Abstract
Ⅰ. Introduction
Ⅱ. The Model
Ⅲ. A Schumpeterian Entrepreneur's Partial Relative Risk Aversion Function
Ⅳ. Concluding Remarks
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