کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5083297 1477797 2016 6 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Creative capital in production, inefficiency, and inequality: A theoretical analysis
ترجمه فارسی عنوان
سرمایه خلاق در تولید، ناکارآمدی و نابرابری: یک تحلیل نظری
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


- We analyze inefficiency and inequality in the production of a final good in a regional economy.
- The individual creative capital units (inputs) are perfect substitutes or perfect complements.
- In the case of perfect substitutes, the equilibrium outcome is inefficient.
- An increase in inequality enhances efficiency and it is possible to achieve complete efficiency.
- In the case of perfect complements, the equilibrium outcome is also inefficient.

We analyze inefficiency and inequality associated with the use of creative capital to produce a final good. We first study a case in which the creative capital units are perfect substitutes in the production of the final good. We show that the equilibrium outcome is inefficient and that there is too little application of effort. Second, we define an indicator of inequality and show that an increase in inequality enhances efficiency and that it is possible to achieve complete efficiency. Third, we focus on the case where the individual creative capital units are perfect complements and show that the equilibrium outcome is inefficient with too little effort application. Finally, we contend that our theoretical results provide a possible rationale for the observed income inequality in cities and regions in which the activities of the creative class constitute a large part of all economic activities.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 45, September 2016, Pages 553-558
نویسندگان
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