We analyze the rate of formation, the characteristics, and the performance of different types of new firms in Sweden over a decade. Comparisons to Denmark, Brazil, and the U.S. suggest that the environment for new firm formation in Sweden is not markedly different than elsewhere. In line with...

We use new data on the location and background of entrants into the U.S. tire industry to analyze the factors that caused the industry to be so regionally concentrated around Akron, Ohio, a small city with no particular advantages for tire production. We analyze the states where firms entered...

Beginning in 1922, the rate of exit of U.S. tire producers increased sharply and the industry began a severe and protracted shakeout. Just five years earlier, the tire industry experienced a surge in entry that led to a rise of over 80% in the number of producers. We propose an explanation for...

During its early and formative years, the U.S. tire industry was heavily concentrated around Akron, Ohio. We test the extent to which entrants in Ohio were attracted to the Akron area by agglomeration benefits, contributing to a self-reinforcing process envisioned in many modern theories of...

We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...

Based on recent findings concerning the best performing startups, we develop a model of Schumpeterian entrepreneurship in which founders exploit ideas they learned through their employment. The model yields distinctive implications about how labor market experience and earnings at work influence...

We analyze the rate of formation, the characteristics, and the performance of different types of new firms in Sweden over a decade. Comparisons to Denmark, Brazil, and the U.S. suggest that the environment for new firm formation in Sweden is not markedly different than elsewhere. In line with...

We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...

Various theories have been advanced for why employees leave incumbent firms to found firms in the same industry, which we call spinoffs. We review the accumulating evidence about spinoffs in various high-tech industries, highlighting the central role often played by disagreements. Because...

We construct a model of industry evolution in which the central force for change is the creation and destruction of submarkets. Firms expand when they are able to exploit new opportunities that arrive in the form of submarkets; they contract and ultimately exit when the submarkets in which they...