Institutions play a vital role in allocating entrepreneurial talent in society. Specifically, the payoffs to different kinds of innovation influence the allocation of entrepreneurial talent between productive, unproductive, and destructive behavior. I apply this insight to the case of the...

Sun Tzu’s Art of War is well-known for its influence in both strategic and management studies. However, most research has overlooked the Art of War produced by Sun Tzu’s descendent, Sun Pin. This text, while not as easily interpreted as its more famous ancestor, also contains discussions of...