Titlebook: Dynamic Perspectives on Managerial Decision Making; Essays in Honor of R Herbert Dawid,Karl F. Doerner,Andrea Seidl Book 2016 Springer Inte

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A. C. Leopold,F. Bruni,R. J. Williamson contract are based on output levels. The model shows that delegation expands the set of stable nonlinear feedback equilibria as well as the residual steady state resource stock. Additionally, the separation between ownership and control mitigates the voracity effect associated with high values of the reproduction rate of the resource.

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Multiplicity of Balanced Growth Paths in an Endogenous Growth Model with Elastic Labor SupplyWe consider the neoclassical one-sector growth model in continuous time with elastic labor supply and a learning-by-doing externality. It is shown that this model can have a continuum of balanced growth paths. Some of these balanced growth paths can be locally unique (determinate) whereas others can be indeterminate.

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