paper, we analyze a two-stage innovation game between one incumbent and a large number of entrants. In the first stage … innovation. In the second stage, successful entrants bid to be acquired by the incumbent. We assume that entrants cannot survive …&D approaches than the incumbent and are more likely to generate the highest value innovation. Thus, the need of entrants to be …

We develop entrepreneurship and institutional theory to explain variation in different types of entrepreneurship across … grow faster. We test these hypotheses using the Global Entrepreneurship Monitor surveys in 55 countries for 2001 …

innovation to the financiers through patenting and prototyping activities, right in the early stages of the venture. We build a …

routinized phase where innovation takes place within top-performing incumbents; (3) a second entrepreneurial phase characterized … routinization, in which no further innovation takes place, but is instead a phase of structural change. Using data on 74 West German …

option of selling to an incumbent increases innovation incentives for entrepreneurs when network effects are strong and … necessarily restrict innovation incentives. We also show that network effects promote acquisitions over entry and that the … entrepreneur has strong incentives to invest in the initial user base of the innovation. …

We investigate the role of national institutions on regional development in a novel framework. We exploit the fact that … institutions. Using both a matching-type and a regression discontinuity approach we show that differences in countrywide … correlation between formal national institutions and economic development has to be carefully interpreted. …

We investigate the role of deeply-rooted pre-colonial ethnic institutions in shaping comparative regional development … ethnic homelands with different legacies of pre-colonial political institutions. …

advantage in pursuing collective actions. Moral groups perpetuate due to positive feedbacks between morality, institutions, and …