The two faces of knowledge diffusion: the Chilean case

✍ Scribed by Piergiuseppe Morone

• Book ID: 102352398
• Publisher: John Wiley and Sons
• Year: 2005
• Tongue: English
• Weight: 151 KB
• Volume: 18
• Category: Article
• ISSN: 0954-1748
• DOI: 10.1002/jid.1198

✦ Synopsis

This paper analyses the dynamics of return to knowledge where knowledge is acquired through the combination of interactive and individual learning. We suggest that in light of this new definition of knowledge, choosing the optimal level of education is no longer an individual exercise of present and future utility maximization as suggested by formal human capital theory. We find that other external (environmental) variables might affect the individual decision of investment. We calculate the effect of individual and interactive learning on determining the wage of Chilean male workers resident in urban areas and aged between 14 and 65.