Productivity effects of innovation, stress and social relations
AbstractAbstract Innovation is a source of increasing productivity, but also of stress. Psychological research shows that individual productivity increases and then decreases as stress levels increase. Agents' stress levels are determined by their own coping ability and by positive and negative spillovers to their social contacts. We model stress and inter-agent dynamics, identifying the relationships between innovation, stress and productivity. We characterize conditions under which multiple equilibria in stress levels and growth rates exist; and under which the dynamics exhibit hysteresis. High rates of innovation can result in high stress equilibrium and have a negative effect on economic growth.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 79 (2011)
Issue (Month): 3 (August)
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Web page: http://www.elsevier.com/locate/jebo
Innovation Stress Social relationships;
Other versions of this item:
- Rifka Weehuizen & Bulat Sanditov & Robin Cowan, 2008. "Productivity effects of innovation, stress and social relations," Working Papers of BETA 2008-07, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
- Weehuizen, Rifka & Sanditov, Bulat & Cowan, Robin, 2008. "Productivity effects of innovation, stress and social relations," UNU-MERIT Working Paper Series 015, United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology.
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
- J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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