(a) Show from our model that (l/k)ln(n - 1) years elapse before 50% of the firms
Chapter 1, Problem 6(choose chapter or problem)
(a) Show from our model that (l/k)ln(n - 1) years elapse before 50% of the firms introduce an innovation. (b) Compute this time span for each of the 12 innovations and compare with the observed values in Figure 3
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