Alexander Smith, Worcester Polytechnic Institute - September 14, 2018
September 14, 2018
Alexander Smith, Worcester Polytechnic Institute, will present a seminar at 4:00 PM in Arts 105
Seminar Title: A Public Good Game with Endogenous Technological Growth (Joint with Jaqueline Ngo)
Abstract: We present a public good game with endogenous technological growth. In the main treatment, subjects collectively invest in augmenting the public good production technology and make individual, voluntary contributions to provision. The level of technology (or “contribution productivity”) is a state variable that grows over time, creating a dynamic link between rounds. Compared to the social optimum, subjects initially underinvest, but ultimately overinvest. Given that gains are not uniform across the income distribution, we conduct two control treatments. In the first, contribution productivity grows exogenously (at a rate that matches the endogenous growth in the main treatment). In the second, there is no technological growth. We conclude that the endogenous growth of the public good production technology serves as a channel by which average earnings rise, driven by the improved outcomes among high performing groups.
This seminar is part of the Department of Economics Seminar Series. Everyone is welcome.
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