Bibliographic Details
| Title: |
SELECTIVE COST-REDUCING INNOVATION. |
| Authors: |
Sherrill #Sraffer |
| Superior Title: |
Review of Industrial Organization; Fall1984, Vol. 1 Issue 3, p240-245, 6p |
| Subject Terms: |
COST control, COST effectiveness, BANKING industry, LABOR costs, CENTRAL banking industry |
| Geographic Terms: |
UNITED States |
| Abstract: |
In the short run, capital-saving technological change may reduce fixed cost whereas labor-saving innovation reduces variable costs. It is shown that risk averse firms prefer the former type of innovation when facing random demand. Deterministic incentives for competitive firms are also discussed. This paper embodies the views of the author and does not represent the views or policy of the Federal Reserve System or the Federal Reserve Bank of New York. The author is grateful for helpful comments from Robert Clover and an anonymous referee. [ABSTRACT FROM AUTHOR] |
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| Database: |
Complementary Index |
