Ideas are nonrival, so increasing returns to scale is an essential feature of technological change in a market economy.
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Responses weighted by each expert's confidence
| Participant | University | Vote | Confidence | Bio/Vote History |
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 Franklin Allen |
Imperial College London | Bio/Vote History | ||
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Not exactly sure what the question is suggesting.
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 Pol Antras |
Harvard | Bio/Vote History | ||
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The fact that ideas are nonrival points to aggregate increasing returns to scale in the production of goods (not in technical change)
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 Timothy J. Besley |
LSE | Did Not Answer | Bio/Vote History | |
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 Olivier Blanchard |
Peterson Institute | Bio/Vote History | ||
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 Nicholas Bloom |
Stanford | Bio/Vote History | ||
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Key idea in modern economics
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 Richard William Blundell |
University College London | Did Not Answer | Bio/Vote History | |
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 Agnès Bénassy-Quéré |
Paris School of Economics | Bio/Vote History | ||
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I am not sure this is just due to ideas being non-rival.
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 Elena Carletti |
Bocconi | Bio/Vote History | ||
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 Jean-Pierre Danthine |
Paris School of Economics | Did Not Answer | Bio/Vote History | |
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 Paul De Grauwe |
LSE | Bio/Vote History | ||
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 Jan Eeckhout |
UPF Barcelona | Bio/Vote History | ||
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 Ernst Fehr |
Universität Zurich | Bio/Vote History | ||
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 Xavier Freixas |
Barcelona GSE | Bio/Vote History | ||
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 Nicola Fuchs-Schündeln |
Goethe-Universität Frankfurt | Did Not Answer | Bio/Vote History | |
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 Jordi Galí |
Barcelona GSE | Bio/Vote History | ||
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 Luis Garicano |
LSE | Did Not Answer | Bio/Vote History | |
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 Francesco Giavazzi |
Bocconi | Bio/Vote History | ||
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 Rachel Griffith |
University of Manchester | Bio/Vote History | ||
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 Veronica Guerrieri |
Chicago Booth | Bio/Vote History | ||
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 Luigi Guiso |
Einaudi Institute for Economics and Finance | Did Not Answer | Bio/Vote History | |
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 Patrick Honohan |
Trinity College Dublin | Bio/Vote History | ||
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The premise is OK but the inference seems too vaguely sweeping...
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 Beata Javorcik |
University of Oxford | Bio/Vote History | ||
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 Henrik Kleven |
Princeton | Did Not Answer | Bio/Vote History | |
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 Jan Pieter Krahnen |
Goethe University Frankfurt | Bio/Vote History | ||
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 Per Krusell |
Stockholm University | Bio/Vote History | ||
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For motivation, see the brilliant document provided by the prize committee! :-)
IRS also requires at least CRS in non-idea inputs.
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 Botond Kőszegi |
Central European University | Bio/Vote History | ||
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 Eliana La Ferrara |
Harvard Kennedy | Did Not Answer | Bio/Vote History | |
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 Christian Leuz |
Chicago Booth | Bio/Vote History | ||
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Non-rivalry gives rise to increasing returns to scale; most ideas are non-rival (unless protected) and central to technological change.
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 Thierry Mayer |
Sciences-Po | Bio/Vote History | ||
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 Costas Meghir |
Yale | Did Not Answer | Bio/Vote History | |
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 Peter Neary |
Oxford | Bio/Vote History | ||
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Ideas can be protected, and imitation is costly, but the statement is broadly correct, with huge implications for R&D and antitrust policy
-see background information here -see background information here |
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 Kevin O'Rourke |
Oxford | Did Not Answer | Bio/Vote History | |
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 Marco Pagano |
Università di Napoli Federico II | Bio/Vote History | ||
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 Lubos Pastor |
Chicago Booth | Did Not Answer | Bio/Vote History | |
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 Torsten Persson |
Stockholm University | Did Not Answer | Bio/Vote History | |
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 Christopher Pissarides |
London School of Economics and Political Science | Did Not Answer | Bio/Vote History | |
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 Richard Portes |
London Business School | Bio/Vote History | ||
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 Canice Prendergast |
Chicago Booth | Bio/Vote History | ||
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 Lucrezia Reichlin |
London Business School | Bio/Vote History | ||
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 Rafael Repullo |
CEMFI | Bio/Vote History | ||
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 Hélène Rey |
London Business School | Did Not Answer | Bio/Vote History | |
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 Antoinette Schoar |
MIT | Bio/Vote History | ||
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 Daniel Sturm |
London School of Economics | Bio/Vote History | ||
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 John Van Reenen |
LSE | Bio/Vote History | ||
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Ideas are non-rival hence do not get constant returns to scale at macro-level because standard replication argument breaks down.
-see background information here |
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 John Vickers |
Oxford | Bio/Vote History | ||
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Assuming the question means increasing returns in production of output (as distinct from production of new technologies)
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 Hans-Joachim Voth |
University of Zurich | Bio/Vote History | ||
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 Beatrice Weder di Mauro |
The Graduate Institute, Geneva | Did Not Answer | Bio/Vote History | |
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 Karl Whelan |
University College Dublin | Bio/Vote History | ||
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Nonrivalry of ideas is important for growth and means there are positive externalities to research. Does not have to mean economy-wide IRS.
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 Charles Wyplosz |
The Graduate Institute Geneva | Bio/Vote History | ||
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 Fabrizio Zilibotti |
Yale University | Bio/Vote History | ||
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