IDEAS home Printed from https://ideas.repec.org/p/nom/nubsmc/2009-06.html
   My bibliography  Save this paper

Superstars, Winner-Take-All Markets and Economic Growth

Author

Listed:
  • Baochun Peng

    ()

Abstract

This paper argues that the “superstar” phenomenon, as a natural outcome of features of knowledge-based products, has important relevance for - and has so far been overlooked by - endogenous growth theory. By modelling superstar phenomena as outcomes of winnertake-all contests in an innovation-driven endogenous growth model, where productivity growth as well as the structures of the winner-takeall contests are jointly determined, this paper provides a framework that simultaneously accounts for changes in income disparity observed in recent decades, the rise of the superstar phenomenon, the intensification of winner-take-all contests, and the “paradox of happiness”.

Suggested Citation

  • Baochun Peng, 2009. "Superstars, Winner-Take-All Markets and Economic Growth," NUBS Malaysia Campus Research Paper Series 2009-06, Nottingham University Business School Malaysia Campus.
  • Handle: RePEc:nom:nubsmc:2009-06
    as

    Download full text from publisher

    File URL: http://ssrn.com/abstract=1392642
    Download Restriction: no

    References listed on IDEAS

    as
    1. Parinduri, Rasyad A. & Riyanto, Yohanes E., 2012. "The Impact of the Strategic Sale of Restructured Banks: Evidence from Indonesia," World Development, Elsevier, vol. 40(3), pages 446-457.
    2. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
    3. Mari Pangestu & Manggi Habir, 2002. "The Boom, Bust and Restructuring of Indonesian Banks," IMF Working Papers 02/66, International Monetary Fund.
    4. Lensink, Robert & Meesters, Aljar & Naaborg, Ilko, 2008. "Bank efficiency and foreign ownership: Do good institutions matter?," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 834-844, May.
    5. Bhattacharyya, Arunava & Lovell, C. A. K. & Sahay, Pankaj, 1997. "The impact of liberalization on the productive efficiency of Indian commercial banks," European Journal of Operational Research, Elsevier, vol. 98(2), pages 332-345, April.
    6. Georgios E. Chortareas & Jesus G. Garza‐Garcia & Claudia Girardone, 2011. "Banking Sector Performance in Latin America: Market Power versus Efficiency," Review of Development Economics, Wiley Blackwell, vol. 15(2), pages 307-325, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Endogenous growth; Winner-take-all contest; Superstars; Income inequality; Happiness;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nom:nubsmc:2009-06. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Rasyad A. Parinduri). General contact details of provider: http://edirc.repec.org/data/bsnotmy.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.