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Fairlie, Robert W.; Lofstrom, Magnus - CESifo - 2015

Immigrants are widely perceived as being highly entrepreneurial and important for economic growth and innovation. This …

Persistent link: https://www.econbiz.de/10011257678

How Do Judgmental Overconfidence and Overoptimism Shape Innovative Activity?

Herz, Holger; Schunk, Daniel; Zehnder, Christian - CESifo - 2013

that the connection between overconfidence and innovation is more complex than the previous literature suggests. In … innovative activity. While overoptimism leads to an innovation enhancing effect, judgmental overconfidence inhibits innovation …. Our results indicate that future research is well advised to take into account that the relationship between innovation …

Persistent link: https://www.econbiz.de/10010877694

Creative Destruction and Productive Preemption

Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - CESifo - 2013

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are …

Persistent link: https://www.econbiz.de/10010877893

Demography and Innovative Entrepreneurship

Bönte, Werner; Falck, Oliver; Heblich, Stephan - CESifo - 2007

Demographic change will be one of the major challenges for economic policy in the developed world in the next decades. In this article, we analyze the relationship between age structure and the number of startups. We argue that an individual’s decision to start a business is determined by his...

Persistent link: https://www.econbiz.de/10005094224

Delegation and Interim Performance Evaluation

Schütte, Miriam; Wichardt, Philipp Christoph - CESifo - 2013

This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide...

Persistent link: https://www.econbiz.de/10010639425

Incentives, Reputation and the Allocation of Authority

Englmaier, Florian; Filipi, Ales; Singh, Ravi - CESifo - 2010

We address the question how much authority a principal should delegate to a manager with conflicting interests and uncertain ability in a context in which the manager has both compensation-based and reputational incentives. The optimal level of authority balances the value of the manager's...

Persistent link: https://www.econbiz.de/10008583737