Expertise and Firm Dynamics
Expertise and Firm Dynamics
About this item
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Publisher
St. Louis: Federal Reserve Bank of St. Louis
Journal title
Language
English
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Publisher
St. Louis: Federal Reserve Bank of St. Louis
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Scope and Contents
Contents
We develop a model of expertise and apply it studying firm dynamics. The profits of the firm are determined by how well it performs a set of tasks. Completing a task perfectly involves finding the unique optimal action, which is unknown \\textit{ex-ante} and has to uncovered through experimentation. Learning is `local' in the sense current actions...
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Expertise and Firm Dynamics
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Author / Creator
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TN_cdi_proquest_journals_2072929401
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https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_2072929401
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https://www.proquest.com/docview/2072929401?pq-origsite=primo&accountid=13902
