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Entrepreneurs face higher commercialization costs than incumbents. We show that this implies that entrepreneurs will choose more risky projects than incumbents, aiming to reduce their high expected marginal commercialization cost. However, entrepreneurs may select too safe projects from a social...
Persistent link: https://www.econbiz.de/10010818447
Market competition is central to innovative activity, the diffusion process and macro-economic productivity growth. Productivity growth at all levels comes about through institutional reconfiguration in response to the ongoing market process. Stable and sustained long-term growth in output...
Persistent link: https://www.econbiz.de/10010818448
No abstract.
Persistent link: https://www.econbiz.de/10010818474
No abstract.
Persistent link: https://www.econbiz.de/10010818530
Entrepreneurship policy mainly aims to promote innovative “Schumpeterian” entrepreneurship. However, the rate of entrepreneurship is commonly proxied using quantity-based metrics, such as small business activity, the self-employment rate or the number of startups. We argue that those metrics...
Persistent link: https://www.econbiz.de/10010818543
In this paper, we argue that evasive entrepreneurship is an important source of innovation in the economy. Institutions …
Persistent link: https://www.econbiz.de/10011074887
strong performance in technological innovation. …
Persistent link: https://www.econbiz.de/10011095045
This essay uses Edmund Phelps new book Mass Flourishing: How Grassroots Innovation Created Jobs,Challenge, and Change … (Princeton University Press, 2013) as inspiration to discuss innovation and entrepreneurship. The book is laudable for its … innovation and the lack of convincing empirical evidence for the claim that the rate of innovation has slowed. These flaws are …
Persistent link: https://www.econbiz.de/10011186638
In this introductory chapter to a collective volume,* we build on Baumol’s (1990) framework to categorize, catalog, and classify the budding research field that explores the interplay between institutions and entrepreneurship. Institutions channel entrepreneurial supply into productive or...
Persistent link: https://www.econbiz.de/10008794457
No abstract.
Persistent link: https://www.econbiz.de/10010611605