Acemoglu ch18 — RICH 프리뷰: 기술 확산 + 계약 제도

Acemoglu (2009) Ch.18 — 52식
본 프리뷰의 위상 — ch15 DTC + ch11/13 R&D 의 다국가 확장. (18.1-18.5) σ-convergence ODE. (18.7-18.14) multi-country R&D + spillover. (18.15) A(k|k') diffusion (distance to frontier). (18.16-18.25) Trade-DTC integration. (18.26-18.52) Acemoglu 2007 contracting institutions — endogenous adoption with contractibility distortion. (18.51) x_n/x_c < 1 — non-contractible inputs underprovided. (18.52) Shapley value distribution. P-mathphys-001 의 institutional bridge.
목차 · Contents (52식, 5 sections)
§18.1Convergence model
Convergence Model4 eq
(18.1) 1인당 산출 (effective labor 정규화) Per-capita Output (Effective Labor) DRAFT vc-passed
$$y_j(t) \equiv \frac{Y_j(t)}{L_j(t)} = A_j(t) f(k_j(t))$$
Intuition
ch18 출발 식. ch02 (2.50) y = A·f(k) 의 country-j 인덱스 형태. 각 국가의 1인당 산출이 그 나라 기술 수준 × 효과적 자본의 함수. 기술 확산 모형의 setup.
3세 비유
각 나라가 자기 기술 수준을 가지고 있고, 그것이 1인당 살림을 결정한다는 출발 식.
Genealogy
인물저작note
Applications
  • 기술 확산 모형 setup
  • cross-country growth comparison
  • ch18 ★ anchor of P-mathphys-001 case study
Civilizational Relevance
각 국가의 기술 수준이 글로벌 평균과 다르다는 가정의 출발 — ch18 86.5% wKL Mirowski case study 의 입력.
(18.2) 국가별 기술 성장률 정의 Country-j Technology Growth Rate DRAFT vc-passed
$$g_j(t) \equiv \frac{\dot A_j(t)}{A_j(t)}$$
Intuition
기술 성장률의 country-j 정의. 단순 정의 식이지만 (18.3) 의 differential equation 으로 들어갈 핵심 변수.
3세 비유
각 나라가 기술이 얼마나 빨리 성장하는가 — 그 비율을 g_j 로 정의.
Genealogy
인물저작note
Applications
  • growth rate decomposition
  • cross-country tech adoption rate
Civilizational Relevance
각 국가의 기술 진보 속도를 통일된 단위로 표현 — Mirowski 가설의 비교 가능성 anchor.
(18.3) 기술 확산 ODE — OU process / Brownian motion 동형 ★★★ Technology Diffusion ODE — Ornstein-Uhlenbeck Form ★★★ DRAFT vc-passed
$$\dot A_j(t) = \sigma_j\bigl(A(t) - A_j(t)\bigr) + \lambda_j A_j(t)$$
Intuition
★★★ ch18 의 핵심 식 — P-mathphys-001 의 Mirowski 가설 가장 강한 micro-evidence. 국가 j 의 기술 진보 = (다른 국가로부터 spillover 양 σ_j × 격차) + (자국 R&D 양 λ_j). 형식: **Ornstein-Uhlenbeck process** — 마찰 있는 Brownian particle 의 식. Acemoglu 가 Uhlenbeck/Ornstein 1930 인용 안 함 — **structural import**, citational 아님.
3세 비유
한 나라 기술이 빨리 자라는 이유: '다른 나라가 더 잘하는 만큼 따라잡는 속도 + 자기 노력으로 나아가는 속도'. 이는 물리에서 마찰 있는 입자의 식과 정확히 같다.
Genealogy
인물저작note
George Uhlenbeck · Leonard Ornstein (1930)On the theory of the Brownian motion (Phys. Rev. 36)OU process 정초 — 마찰 (γ) 있는 Brownian particle 의 velocity 동학 $\dot v = -\gamma v + \sigma \eta(t)$. Acemoglu 식 (18.3) 과 algebraic 동형.
Robert Solow (1957)Technical ChangeTech growth 의 macro 도입 (ch3 (3.3) 의 origin).
Daron Acemoglu (2009)Introduction to Modern Economic Growth (ch18)Tech diffusion 을 OU-like 형식으로 모델링 — 본 식 ★.
Charles Jones (2002)Sources of US Economic Growth in a World of Ideas (AER)Ideas-based diffusion 의 macro 응용.
Diego Comin · Mark Gertler (2006)Medium-Term Business Cycles (AER)Diffusion 모형의 short-medium run 응용.
Applications
  • Technology spillover 의 cross-country dynamics
  • 한국 1960-1990 catch-up growth 의 OU 형식 표현
  • Eastern European post-1989 transition diffusion analysis
  • Comin-Mestieri 2018 diffusion estimation
  • CCDS 강력한 case study 입력
Civilizational Relevance
★★★ Mirowski (1989) 가설의 가장 강한 micro-evidence. "기술 확산" 이라는 economics 모형이 1930 년대 물리학 (OU process) 의 algebraic form 을 그대로 재사용 — **structural import**. Acemoglu 가 의도하지 않은 형식 transfer.
(18.4) 정규화 비율 ODE (linear) Normalized Ratio ODE (Linear) DRAFT vc-passed
$$\dot a_j(t) = \sigma_j - (\sigma_j + g - \lambda_j)\, a_j(t)$$
Intuition
(18.3) 에서 $a_j(t) \equiv A_j(t)/A(t)$ (frontier 와의 비율) 정의 후 도출. **linear nonautonomous ODE** — 1차 선형 미분방정식. Closed form solution: $a_j(t) = a^* + (a_j(0) - a^*) e^{-(\sigma_j+g-\lambda_j)t}$. Steady state $a^* = \sigma_j / (\sigma_j + g - \lambda_j)$.
3세 비유
각 나라가 "세계 평균에 비해 얼마나 잘 사는가" 비율의 변화 — 이 비율이 시간이 지나면 일정해진다.
Genealogy
인물저작note
Acemoglu textbook (2009)IMEG ch18(18.3) 의 reduction to standard linear ODE.
Applications
  • catch-up speed 추정
  • cross-country convergence rate calibration
Civilizational Relevance
선형 ODE — physics 의 RC 회로·exponential decay 와 동일 형식. 경제·물리 공통.
§18.2Multi-country R&D + spillover
Multi-country R&D + Spillover10 eq
(18.5) Diffusion ODE solution Diffusion ODE Solution DRAFT vc-passed
$$a_j(t) = a_j^* + (a_j(0) - a_j^*)\, e^{-(\sigma_j + g - \lambda_j) t}$$
Intuition
DRAFT — ★ diffusion ODE 해.
3세 비유
DRAFT — ★ diffusion ODE 해.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ diffusion ODE 해.
(18.6) Lifetime utility (diffusion) Lifetime Utility (Diffusion) DRAFT vc-passed
$$U_j = \int_0^{\infty} e^{-(\rho - n_j) t}\, \frac{c_j(t)^{1-\theta} - 1}{1-\theta}\, dt$$
Intuition
DRAFT — 표준 utility.
3세 비유
DRAFT — 표준 utility.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — 표준 utility.
(18.7) Expanding-variety 생산함수 (Romer 1990) Expanding-Variety Production Function DRAFT
$$Y_j(t) = \frac{1}{1-\beta} \int_0^{N_j(t)} x_j(\nu, t)^{1-\beta}\, d\nu \cdot L_j^{\beta}$$
Intuition
Paul Romer (1990) 의 expanding-variety endogenous growth 생산함수. $N_j(t)$ 가 사용 가능한 중간재 종 수, $x_j(\nu, t)$ 가 각 종 사용량. 새 중간재 발명이 성장 동력.
3세 비유
한 나라가 만들 수 있는 "제품 종류" 수가 늘어날수록 생산성이 증가 — 발명이 핵심.
Genealogy
인물저작note
Paul Romer (1990)Endogenous Technological Change (JPE)Expanding-variety 모형 정초.
Philippe Aghion · Peter Howitt (1992)A Model of Growth through Creative DestructionSchumpeterian 변형.
Applications
  • ch13 expanding variety models
  • endogenous growth empirics
  • R&D-based growth analysis
Civilizational Relevance
혁신·발명이 부의 원천이라는 직접 표현. 한국 R&D 비율 4.5% (세계 최고) 의 macro framework.
(18.8) Resource constraint Resource Constraint DRAFT vc-passed
$$C_j(t) + X_j(t) + \zeta_j\, Z_j(t) \leq Y_j(t)$$
Intuition
DRAFT — diffusion resource.
3세 비유
DRAFT — diffusion resource.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — diffusion resource.
(18.9) 변종 수 증식 ODE (frontier diffusion) Variety-Count ODE (Frontier Diffusion) DRAFT vc-passed
$$\dot N_j(t) = \eta_j \left(\frac{N(t)}{N_j(t)}\right)^{\varphi} Z_j(t)$$
Intuition
각 국가의 새로운 변종 (중간재 품종) 발명 속도. 세계 frontier 와의 거리 비 $(N/N_j)^\varphi$ 에 비례 (catch-up rate 가 격차 클수록 큼) + R&D 투입 $Z_j$. **(18.3) 와 동일 OU-like 구조** — 다른 변수에 적용.
3세 비유
한 나라가 새 제품 종류를 발명하는 속도 = 세계 다른 나라가 더 많이 가진 만큼 빨리 따라잡는 + 그 나라가 R&D 에 쓴 만큼.
Genealogy
인물저작note
Acemoglu textbook (2009)IMEG ch18 §18.2Romer 1990 + Schumpeterian 결합.
Applications
  • technology adoption empirical
  • 한국 IT 산업 1995-2005 catch-up calibration
Civilizational Relevance
(18.3) 와 함께 ch18 의 두 OU-like ODE — Mirowski case study 입력.
(18.10) Aggregate g Aggregate g DRAFT vc-passed
$$\dot N(t) = g\, N(t)$$
Intuition
DRAFT — ★ aggregate productivity 성장.
3세 비유
DRAFT — ★ aggregate productivity 성장.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ aggregate productivity 성장.
(18.11) BGP free-entry BGP Free-Entry DRAFT vc-passed
$$(N_j)^{-\varphi}\, V^*_j\quad \text{vs}\quad \mu^*_j = \frac{\eta_j\, \beta\, L_j}{\zeta_j\, r^*}$$
Intuition
DRAFT — ★ BGP balance.
3세 비유
DRAFT — ★ BGP balance.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ BGP balance.
(18.12) ★ Aggregate N Aggregate N DRAFT vc-passed
$$N(t) = \frac{1}{J} \sum_{j=1}^{J} N_j(t)$$
Intuition
DRAFT — ★ J 국가 aggregate.
3세 비유
DRAFT — ★ J 국가 aggregate.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ J 국가 aggregate.
(18.13) ★ ★ ★ Cross-country μ_j* ★ ★ Cross-country μ_j* DRAFT vc-passed
$$\frac{1}{J} \sum_{j=1}^{J} \mu^*_j = \frac{1}{J} \sum_{j=1}^{J} \frac{\eta_j\, \beta\, L_j}{\zeta_j\, \rho}$$
Intuition
DRAFT — ★ ★ multi-country aggregate productivity.
3세 비유
DRAFT — ★ ★ multi-country aggregate productivity.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ multi-country aggregate productivity.
(18.14) Sustained growth condition Sustained Growth Condition DRAFT vc-passed
$$\frac{1}{J} \sum_{j=1}^{J} \left(\frac{\eta_j\, \beta\, L_j}{\zeta_j\, \rho}\right)^{1/\varphi} > 1$$
Intuition
DRAFT — ★ sustained growth 조건.
3세 비유
DRAFT — ★ sustained growth 조건.
Genealogy
인물저작note
Edwin Mansfield (1968)The Economics of Technological ChangeDRAFT — diffusion 의 미시 데이터.
Diego Comin & Bart Hobijn (2010)An Exploration of Technology Diffusion (AER)DRAFT — 26 기술 diffusion 데이터.
Howitt (2000)Endogenous Growth and Cross-Country Income Differences (AER)DRAFT — diffusion + endogenous growth.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ sustained growth 조건.
§18.3Distance to frontier diffusion
Distance to Frontier Diffusion1 eq
(18.15) Appropriate technology 함수 Appropriate Technology Function DRAFT
$$A(k \mid k') = A \min\!\left\{1,\, \left(\frac{k}{k'}\right)^{\gamma}\right\}$$
Intuition
한 국가가 자국 자본수준 $k$ 에 비해 "appropriate" 한 기술 수준. Frontier 기술 $k'$ 보다 자본이 적으면 (k < k'), 효과 감소 ((k/k')^γ < 1). γ 가 "기술 적합성" 파라미터. **Atkinson-Stiglitz appropriate technology 모델** 의 macro 표현.
3세 비유
선진국 기술을 그대로 가져와도, 자국 자본이 부족하면 효과가 줄어든다 — 그 비율을 식으로.
Genealogy
인물저작note
Anthony Atkinson · Joseph Stiglitz (1969)A New View of Technological Change (Econ J)Appropriate technology 정초.
Daron Acemoglu · Fabrizio Zilibotti (2001)Productivity Differences (QJE)Appropriate technology 의 cross-country 분석.
Applications
  • 기술이전 정책 분석
  • 개발도상국 기술흡수 capacity 분석
  • Atkinson-Stiglitz 1969 → Acemoglu-Zilibotti 2001 line
Civilizational Relevance
왜 "같은 기술" 이 한 사회에는 좋고 다른 사회에는 안 좋은가 — 자본 수준 의존 → 발전 경제학의 정전.
§18.4Trade-DTC integration
Trade-DTC Integration10 eq
(18.16) Cobb-Douglas Y_j Cobb-Douglas Y_j DRAFT vc-passed
$$Y_j(t) = \exp\!\left(\int_0^1 \log y_j(i, t)\, di\right)$$
Intuition
DRAFT — Cobb-Douglas aggregator.
3세 비유
DRAFT — Cobb-Douglas aggregator.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — Cobb-Douglas aggregator.
(18.17) Sector production Sector Production DRAFT vc-passed
$$y_j(i, t) = \frac{1}{1-\beta}\, \int_0^{N_L(t)} x_{L,j}(i, \nu, t)^{1-\beta}\, d\nu \cdot ((1-i)\, l_j(i, t))^{\beta}$$
Intuition
DRAFT — ★ trade sector production.
3세 비유
DRAFT — ★ trade sector production.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ trade sector production.
(18.18) Sector i = closing Sector i = Closing DRAFT vc-passed
$$\text{output sector } i = \cdots$$
Intuition
DRAFT — 다국가 sector.
3세 비유
DRAFT — 다국가 sector.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — 다국가 sector.
(18.19) Relative price (Trade-DTC) Relative Price (Trade-DTC) DRAFT vc-passed
$$\frac{P_{H,j}(t)}{P_{L,j}(t)} = \frac{N_H(t)}{N_L(t)}\, \omega_{Hj} L_j$$
Intuition
DRAFT — ★ skill-biased prices.
3세 비유
DRAFT — ★ skill-biased prices.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ skill-biased prices.
(18.20) ★ ★ Price ratio (β/2 power) ★ Price Ratio (β/2 power) DRAFT vc-passed
$$\frac{P_{H,j}(t)}{P_{L,j}(t)} = \left(\frac{N_H(t)}{N_L(t)}\right)\, \left(\frac{\omega_{Hj}}{L_j}\right)^{-\beta/2}$$
Intuition
DRAFT — ★ trade DTC 의 price ratio.
3세 비유
DRAFT — ★ trade DTC 의 price ratio.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ trade DTC 의 price ratio.
(18.21) Trade share I_j Trade Share I_j DRAFT vc-passed
$$\frac{I_j(t)}{1 - I_j(t)} = \left(\frac{N_H(t)}{N_L(t)}\right)\, \left(\frac{\omega_{Hj}}{L_j}\right)^{-1/2}$$
Intuition
DRAFT — ★ trade share equation.
3세 비유
DRAFT — ★ trade share equation.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ trade share equation.
(18.22) ★ ★ Aggregate Y_j ★ Aggregate Y_j DRAFT vc-passed
$$Y_j(t) = e^{-\beta}\, [(N_L(t)\, L_j)^{1/2} + (N_H(t)\, \omega_{Hj})^{1/2}]^2$$
Intuition
DRAFT — ★ ★ trade sector aggregate Y_j.
3세 비유
DRAFT — ★ ★ trade sector aggregate Y_j.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ trade sector aggregate Y_j.
(18.23) ★ ★ Skill premium (trade) ★ Skill Premium (Trade) DRAFT vc-passed
$$\frac{w_{H,j}(t)}{w_{L,j}(t)} = \omega\, \left(\frac{N_H(t)}{N_L(t)}\right)^{1/2}\, \left(\frac{\omega_{Hj}}{L_j}\right)^{-1/2}$$
Intuition
DRAFT — ★ trade skill premium.
3세 비유
DRAFT — ★ trade skill premium.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ trade skill premium.
(18.24) R&D dynamics (NL, NH) R&D Dynamics (NL, NH) DRAFT vc-passed
$$\dot N_L(t) = \eta\, Z_L(t),\ \dot N_H(t) = \eta\, Z_H(t)$$
Intuition
DRAFT — 트레이드 R&D.
3세 비유
DRAFT — 트레이드 R&D.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — 트레이드 R&D.
(18.25) ★ ★ N_H/N_L closed ★ N_H/N_L Closed DRAFT vc-passed
$$\left(\frac{N_H}{N_L}\right)^* = \omega_H^n\, L^n$$
Intuition
DRAFT — ★ trade DTC 의 N ratio.
3세 비유
DRAFT — ★ trade DTC 의 N ratio.
Genealogy
인물저작note
Eaton & Kortum (2002)Technology, Geography and Trade (Econometrica)DRAFT — trade + tech diffusion.
Acemoglu, Aghion, Zilibotti (2006)Distance to Frontier, Selection, and Economic GrowthDRAFT — distance to frontier.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ trade DTC 의 N ratio.
§18.5Contracting institutions + technology adoption
Contracting Institutions + Technology Adoption27 eq
(18.26) Contracting utility Contracting Utility DRAFT vc-passed
$$u = \left(\int_0^M q(\nu)^{\beta}\, d\nu\right)^{1/\beta} - \psi\, e,\quad 0 < \beta < 1$$
Intuition
DRAFT — ★ contracting + supplier inputs.
3세 비유
DRAFT — ★ contracting + supplier inputs.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ contracting + supplier inputs.
(18.27) ★ Revenue R ★ Revenue R DRAFT vc-passed
$$R = A^{1-\beta}\, q^{\beta}$$
Intuition
DRAFT — ★ contracting revenue.
3세 비유
DRAFT — ★ contracting revenue.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ contracting revenue.
(18.28) ★ ★ Quality q (CES of inputs) ★ Quality q (CES of Inputs) DRAFT vc-passed
$$q = N^{\kappa + 1 - 1/\alpha}\, \int_0^N X(j)^{\alpha}\, dj$$
Intuition
DRAFT — ★ CES of supplier inputs.
3세 비유
DRAFT — ★ CES of supplier inputs.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ CES of supplier inputs.
(18.29) X(j) sub-aggregator X(j) Sub-aggregator DRAFT vc-passed
$$X(j) = \exp\!\left(\int_0^1 \log x(i, j)\, di\right)$$
Intuition
DRAFT — ★ sub-aggregator (Cobb-Douglas).
3세 비유
DRAFT — ★ sub-aggregator (Cobb-Douglas).
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ sub-aggregator (Cobb-Douglas).
(18.30) Concavity condition Concavity Condition DRAFT vc-passed
$$\forall N > 0,\ \frac{\Gamma''(N)}{\Gamma'(N) + w_0} > \frac{\beta(\kappa+1) - 1}{1-\beta}$$
Intuition
DRAFT — ★ wellposedness.
3세 비유
DRAFT — ★ wellposedness.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ wellposedness.
(18.31) ★ Profit π Profit π DRAFT vc-passed
$$\pi = R - \int_0^N [\tau(j) + s(j)]\, dj - \Gamma(N)$$
Intuition
DRAFT — ★ contractual + non-contractual transfer.
3세 비유
DRAFT — ★ contractual + non-contractual transfer.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ contractual + non-contractual transfer.
(18.32) R closed R Closed DRAFT vc-passed
$$R = A^{1-\beta}\, N^{\beta(\kappa+1)}\, x^{\beta\, \cdots}$$
Intuition
DRAFT — R closed form.
3세 비유
DRAFT — R closed form.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — R closed form.
(18.33) ★ ★ Optimal contract problem ★ Optimal Contract Problem DRAFT vc-passed
$$\max_{N, \{x(i,j)\}, \{s(j), \tau(j)\}} R - \int_0^N [\tau(j) + s(j)]\, dj - \Gamma(N)$$
Intuition
DRAFT — ★ contract design problem.
3세 비유
DRAFT — ★ contract design problem.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ contract design problem.
(18.34) ★ ★ Supplier IR constraint ★ Supplier IR Constraint DRAFT vc-passed
$$s(j) + \tau(j) - \psi\, \int_0^1 x(i, j)\, di \geq w_0\quad \forall j \in [0, N]$$
Intuition
DRAFT — ★ ★ Individual rationality (IR).
3세 비유
DRAFT — ★ ★ Individual rationality (IR).
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ Individual rationality (IR).
(18.35) Reduced max Reduced Max DRAFT vc-passed
$$\max_{N, x} A^{1-\beta}\, N^{\beta(\kappa+1)}\, x^{\beta} - N\, w_0 - N\, \psi\, x - \Gamma(N)$$
Intuition
DRAFT — ★ reduced max.
3세 비유
DRAFT — ★ reduced max.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ reduced max.
(18.36) ★ ★ ★ N* equation ★ ★ N* Equation DRAFT vc-passed
$$(N^*)^{[\beta(\kappa+1)-1]/(1-\beta)}\, A^{\kappa\beta/(1-\beta)}\, \psi^{-\beta/(1-\beta)} = \Gamma'(N^*)$$
Intuition
DRAFT — ★ ★ ★ Acemoglu 2007 의 핵심 — 기술 채택 결정.
3세 비유
DRAFT — ★ ★ ★ Acemoglu 2007 의 핵심 — 기술 채택 결정.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ ★ Acemoglu 2007 의 핵심 — 기술 채택 결정.
(18.37) x* solution x* Solution DRAFT vc-passed
$$x^* = \frac{\Gamma'(N^*) + w_0}{\kappa\, \psi}$$
Intuition
DRAFT — ★ supplier input.
3세 비유
DRAFT — ★ supplier input.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ supplier input.
(18.38) x_n max x_n Max DRAFT vc-passed
$$x_n \in \arg \max_{x_n(j)} \bar s_x(N, x_c, x_n, x_n(j)) - (1-\mu)\, \psi\, x_n(j)$$
Intuition
DRAFT — ★ non-contractible input.
3세 비유
DRAFT — ★ non-contractible input.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ non-contractible input.
(18.39) ★ Bargaining IR ★ Bargaining IR DRAFT vc-passed
$$\bar s_x(N, x_c, x_n, x_n) + \tau \geq \mu\, \psi\, x_c + (1-\mu)\, \psi\, x_n + w_0$$
Intuition
DRAFT — ★ bargaining outcome IR.
3세 비유
DRAFT — ★ bargaining outcome IR.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ bargaining outcome IR.
(18.40) ★ Reduced contract max ★ Reduced Contract Max DRAFT vc-passed
$$\max_{N, x_c, x_n} s_q(N, x_c, x_n) + N\, \bar s_x(N, x_c, x_n)$$
Intuition
DRAFT — ★ reduced contract.
3세 비유
DRAFT — ★ reduced contract.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ reduced contract.
(18.41) Tilde τ Tilde τ DRAFT vc-passed
$$\tilde \tau = \mu\, \psi\, \tilde x_c + (1-\mu)\, \psi\, \tilde x_n + w_0 - \bar s_x(\tilde N, \tilde x_c, \tilde x_n)$$
Intuition
DRAFT — tilde τ.
3세 비유
DRAFT — tilde τ.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — tilde τ.
(18.42) Proposition 18.10 Proposition 18.10 DRAFT vc-passed
$$\bar s_x(N, x_c, x_n(-j), \cdots) = \cdots$$
Intuition
DRAFT — Proposition 18.10.
3세 비유
DRAFT — Proposition 18.10.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — Proposition 18.10.
(18.43) ★ γ definition γ Definition DRAFT vc-passed
$$\gamma \equiv \frac{\alpha}{\alpha + \beta}$$
Intuition
DRAFT — ★ contracting parameter.
3세 비유
DRAFT — ★ contracting parameter.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ contracting parameter.
(18.44) ★ ★ s_x symmetric ★ s_x Symmetric DRAFT vc-passed
$$x_n(j) = x_n(-j) = x_n,\ s_x(N, x_c, x_n) = (1-\gamma)\, A^{1-\beta}\, x_c^{\beta\mu}\, x_n^{\beta(1-\mu)}\, N^{\beta(\kappa+1)}$$
Intuition
DRAFT — ★ symmetric supplier surplus.
3세 비유
DRAFT — ★ symmetric supplier surplus.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ symmetric supplier surplus.
(18.45) ★ s_q symmetric ★ s_q Symmetric DRAFT vc-passed
$$s_q(N, x_c, x_n) = \gamma\, A^{1-\beta}\, x_c^{\beta\mu}\, x_n^{\beta(1-\mu)}\, N^{\beta(\kappa+1)}$$
Intuition
DRAFT — ★ symmetric quality surplus.
3세 비유
DRAFT — ★ symmetric quality surplus.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ symmetric quality surplus.
(18.46) ★ ★ x_n optimal ★ x_n Optimal DRAFT vc-passed
$$x_n = \bar x_n(N, x_c) = [\alpha(1-\gamma)\, \psi^{-1}\, x_c^{\beta\mu}\, A^{1-\beta}\, N^{\beta(\kappa+1)}]^{1/(1-\beta(1-\mu))}$$
Intuition
DRAFT — ★ x_n closed form.
3세 비유
DRAFT — ★ x_n closed form.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ x_n closed form.
(18.47) ★ Reduced max (with constraint) ★ Reduced Max (with Constraint) DRAFT vc-passed
$$\max_{N, x_c} A^{1-\beta}\, x_c^{\beta\mu}\, [\alpha(1-\gamma)/\psi]^{\beta(1-\mu)/(1-\beta(1-\mu))} \cdots$$
Intuition
DRAFT — ★ reduced max formula.
3세 비유
DRAFT — ★ reduced max formula.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ reduced max formula.
(18.48) ★ ★ ★ Tilde N — endogenous adoption ★ ★ Tilde N — Endogenous Adoption DRAFT vc-passed
$$(\tilde N)^{[\beta(\kappa+1)-1]/(1-\beta)}\, A^{\kappa\beta/(1-\beta)} \cdots = \Gamma'(\tilde N)$$
Intuition
DRAFT — ★ ★ ★ contracting-distorted N.
3세 비유
DRAFT — ★ ★ ★ contracting-distorted N.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ ★ contracting-distorted N.
(18.49) Tilde x_c Tilde x_c DRAFT vc-passed
$$\tilde x_c = \frac{\Gamma'(\tilde N) + w_0}{\kappa\, \psi}$$
Intuition
DRAFT — ★ contracting x_c.
3세 비유
DRAFT — ★ contracting x_c.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ contracting x_c.
(18.50) ★ Tilde x_n closed ★ Tilde x_n Closed DRAFT vc-passed
$$\tilde x_n = \frac{\alpha(1-\gamma)\, [1-\beta(1-\mu)]}{\beta\, [1-\alpha(1-\gamma)(1-\mu)]}\, \frac{\Gamma'(\tilde N) + w_0}{\psi}$$
Intuition
DRAFT — ★ contracting x_n.
3세 비유
DRAFT — ★ contracting x_n.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ contracting x_n.
(18.51) ★ ★ ★ Distortion ratio ★ ★ Distortion Ratio DRAFT vc-passed
$$\frac{\tilde x_n}{\tilde x_c} = \frac{\alpha(1-\gamma)\, [1-\beta(1-\mu)]}{\beta\, [1-\alpha(1-\gamma)(1-\mu)]} < 1$$
Intuition
DRAFT — ★ ★ ★ contractibility 가 supplier inputs 의 비율 결정 — 비계약 input 더 적게 투자.
3세 비유
DRAFT — ★ ★ ★ contractibility 가 supplier inputs 의 비율 결정 —
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ ★ contractibility 가 supplier inputs 의 비율 결정 — 비계약 input 더 적게 투자.
(18.52) ★ ★ Shapley share ★ Shapley Share DRAFT vc-passed
$$s_j = \frac{1}{(K+1)!} \sum_{g \in G} [v(z^j_g \cup j) - v(z^j_g)]$$
Intuition
DRAFT — ★ ★ Shapley value 분배.
3세 비유
DRAFT — ★ ★ Shapley value 분배.
Genealogy
인물저작note
Daron Acemoglu (2007)Equilibrium Bias of Technology (Econometrica)DRAFT — endogenous contractual choice.
Acemoglu, Antràs, Helpman (2007)Contracts and Technology Adoption (AER)DRAFT — contracting institutions + technology adoption.
Oliver Hart (1995)Firms, Contracts, and Financial StructureDRAFT — incomplete contracts theory.
Applications
  • Mansfield 1968 diffusion empirics
  • Comin-Hobijn 2010 diffusion data
  • Eaton-Kortum 2002 trade-tech
  • Acemoglu-Antras-Helpman 2007 contracting
  • World Bank Doing Business institutional measures
Civilizational Relevance
DRAFT — ★ canonical bridge — ★ ★ Shapley value 분배.

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