Published equation contexts
Why this formula appears here
Semi-endogenous growth theory, the framework Jones developed and that his 2022 Annual Review of Economics piece surveys, formalizes this into a relationship between population growth and the long-run growth rate of ideas [ 4 ] . Population enters the idea-production function as the stock of people available to search the technological fitness landscape for improvements, and because ideas are non-rival — one firm’s discovery of a better transistor layout does not use up the possibility for another firm to discover a different one — expanding that search population raises the rate of discovery roughly in proportion to its own growth, discounted by how much duplicated effort dilutes the return…
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Symbol λ
λ occurs above the fraction bar. The numerator is divided by the entire denominator below it.
Read this term in its guide →Symbol n
n occurs above the fraction bar. The numerator is divided by the entire denominator below it.
Read this term in its guide →Symbol phi
phi occurs below the fraction bar. The quantity above the bar is divided by this expression; zero is excluded as a denominator.
Read this term in its guide →Denominator: 1-phi
The complete quantity below the fraction bar; it must be nonzero for this division.
Read this term in its guide →How to interpret it
With a fixed numerator, increasing a nonzero denominator reduces the fraction. Read it with the definitions, units, and assumptions supplied by the article.
Research cited beside this formula
Published contexts (1)
A symbol can carry a different meaning in another article. Each occurrence keeps its own guide and term definitions.
Equation 1 · Technological Evolution
Who Builds 2100? The Demographic Engine of Technological Evolution
This equation states an equality: the expressions on both sides have the same value under the article’s assumptions.
Semi-endogenous growth theory, the framework Jones developed and that his 2022 Annual Review of Economics piece surveys, formalizes this into a relationship between population growth and the long-run growth rate of ideas [ 4 ] . Population enters the idea-production function as the stock of people available to search the technological fitness landscape for improvements, and because ideas are non-rival — one firm’s discovery of a better transistor layout does not use up the possibility for another firm to discover a different one — expanding that search population raises the rate of discovery roughly in proportion to its own growth, discounted by how much duplicated effort dilutes the return…