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Technology Imports and Decision Criteria of the Schumpeterian Entrepreneur under Uncertainty
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- Authors
- Issue Date
- 1989-07
- Citation
- Seoul Journal of Economics, Vol.2 No.2, pp. 189-207
- Keywords
- production costs ; capital and labor markets ; RAT ; EGOR
- Abstract
- While, suprisingly, in discussion of technology trade little attention has been focused on the behavior of the technologyimporter, 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.
- ISSN
- 1225-0279
- Language
- English
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