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Knowledge Exchange, Matching, and Agglomeration

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Author Info
Marcus Berliant (Washington University in St. Louis)
Robert R. Reed III (University of Kentucky)
Ping Wang (Washington University in St. Louis)

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Abstract

Despite wide recognition of their significant role in explaining sustained growth and economic development, uncompensated knowledge spillovers have not yet been fully modeled with a microeconomic foundation. This paper illustrates the exchange of knowledge as well as its consequences for agglomerative activity in a general-equilibrium search-theoretic framework. Agents, possessing differentiated types of knowledge, search for partners to exchange ideas in order to improve production efficacy. Contrary to previous work, we demonstrate that a decentralized equilibrium may be under-populated or over-populated and under-selective or over-selective in knowledge exchange, compared to the social optimum.

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Paper provided by EconWPA in its series Urban/Regional with number 0506013.

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Length: 38 pages
Date of creation: 23 Jun 2005
Date of revision: 07 Jul 2005
Handle: RePEc:wpa:wuwpur:0506013

Note: Type of Document - pdf; pages: 38
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Related research
Keywords: matching knowledge exchange and spillovers agglomerative activity

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Find related papers by JEL classification:
C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
R12 - Urban, Rural, and Regional Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Masahisa Fujita & Marcus Berliant, 2004. "Knowledge Creation as a Square Dance on the Hilbert Cube," Econometric Society 2004 North American Summer Meetings 204, Econometric Society. [Downloadable!]
    Other versions:
  2. John Hartwick & Andrei Bazhanov, 2007. "On Beckmann's Dispersed "Interaction City"," Working Papers 1170, Queen's University, Department of Economics. [Downloadable!]
  3. Robert M. Hunt, 2007. "Matching externalities and inventive productivity," Working Papers 07-7, Federal Reserve Bank of Philadelphia. [Downloadable!]
  4. Marcus Berliant & Ping Wang, 2004. "Dynamic Urban Models: Agglomeration and Growth," Urban/Regional 0404006, EconWPA. [Downloadable!]
    Other versions:
  5. Neslihan Aydogan & Thomas P. Lyon, 2004. "Spatial Proximity and Complementarities in the Trading of Tacit Knowledge," Microeconomics 0404004, EconWPA. [Downloadable!]
    Other versions:
  6. Gerald Carlino & Satyajit Chatterjee & Robert Hunt, 2006. "Urban density and the rate of invention," Working Papers 06-14, Federal Reserve Bank of Philadelphia. [Downloadable!]
    Other versions:
  7. Giles Duranton & Diego Puga, 2003. "Micro-Foundations of Urban Agglomeration Economies," NBER Working Papers 9931, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  8. Charlot, Sylvie & Duranton, Gilles, 2003. "Communication Externalities in Cities," CEPR Discussion Papers 4048, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  9. Shihe Fu, 2005. "Smart Cafe Cities: Testing Human Capital Externalities in the Boston Metropolitan Area," Working Papers 05-24, Center for Economic Studies, U.S. Census Bureau. [Downloadable!]
    Other versions:
  10. Gerald Carlino & Satyajit Chatterjee & Robert Hunt, 2005. "Matching and learning in cities: urban density and the rate of invention," Working Papers 04-16, Federal Reserve Bank of Philadelphia. [Downloadable!]
    Other versions:
  11. Bazhanov, Andrei & Hartwick, John, 2006. "Dispersed Interactions of Urban Residents," MPRA Paper 766, University Library of Munich, Germany. [Downloadable!]
  12. Chung-Yi Tse, 2008. "Learning investment and industrial diversity in urban growth," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(2), pages 413-433, April. [Downloadable!] (restricted)
  13. Berliant, Marcus & Fujita, Masahisa, 2008. "The dynamics of knowledge diversity and economic growth," MPRA Paper 9514, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  14. Jan Kranich, 2008. "R&D and the agglomeration of industries," Working Paper Series in Economics 83, University of Lüneburg, Institute of Economics. [Downloadable!]
  15. Marcus Berliant & Ping Wang, 2005. "Urban Growth and Subcenter Formation: A Trolley Ride from the Staples Center to Disneyland and the Rose Bowl," Urban/Regional 0511012, EconWPA. [Downloadable!]
    Other versions:
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