no code implementations • 21 Sep 2021 • Lin William Cong, Danxia Xie, Longtian Zhang
We build an endogenous growth model with consumer-generated data as a new key factor for knowledge accumulation.
no code implementations • 21 Sep 2021 • Lin William Cong, Wenshi Wei, Danxia Xie, Longtian Zhang
Specifically, consumers' failure to fully internalize knowledge spillover when bearing privacy costs, combined with firms' market power, underprice data and inefficiently limit their supply, leading to underemployment in the innovation sector and a suboptimal long-run growth.
