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Is more intense product market competition and imitation good or bad for growth? This question is addressed in the context of an endogenous growth model with " step-by-step " innovations, in which technological laggards must first catch up with the leading-edge technology before battling for technological leadership in the future. In contrast to earlier(More)
This article studies the replicator dynamics in the presence of shocks. I show that under these dynamics, strategies that do not survive the iterated deletion of strictly dominated strategies are eliminated in the long run, even in the presence of nonvanishing perturbations. I also give an example that shows that the stochastic dynamics in this article have(More)
Edge detection is the process of detecting discontinuities in signals and images. We apply Genetic Programming techniques to the production of high-performance edge detectors for 1-D signals and image profiles. The method, which it is intended to extend to the development of practical edge detectors for use in image processing and machine vision, uses(More)
We offer a theory of economic fluctuations based on intertemporal increasing returns: agents who have been active in the past face lower costs of action today. This specification explains the observed persistence in individual and aggregate output fluctuations even in the presence of i.i.d shocks, because individuals respond to the same shock differently(More)
This paper suggests a reason, other than asymmetric information , why agency contracts are not explicitly contingent on the agent's performance or actions. Two ingredients are essential to this reason. The rst is the written form that contracts are required to take to be enforceable. The second is a form of discontinuity in the parties' preferences and in(More)
Genetic Programming (GP) is a powerful machine learning technique derived from Genetic Algorithms. We use GP to produce high-performance edge detectors in 1-dimensional signals. Using the theory of edge detection to assess candidate detectors produced by GP, we show that this technique can produce detectors that often out-perform the established 'optimal'(More)
This paper introduces two complementary models of firm-specific training: an informational model and a productivity-enhancement model. In both models, market provision of firm-specific training is inefficient. However, the nature of the inefficiency depends on the balance between the two key components of training, namely productivity enhancement and(More)
Purpose The rise in computing has been accompanied by a decrease in the costs of computers and an increase in the use of simulations for learning and training. In the STEM field in particular, real equipment can be difficult to obtain, dangerous to operate, and cost prohibitive, so simulations let students experience and investigate scientific phenomena(More)
Next generation radio telescopes will require orders of magnitude more computing power to provide a view of the universe with greater sensitivity. In the initial stages of the signal processing flow of a radio telescope, signal correlation is one of the largest challenges in terms of handling huge data throughput and intensive computations. We implemented a(More)