We propose a model of equilibrium contracting between two agents who are quot;boundedly rationalquot; in the sense that they face time-costs of deliberating current and future transactions. We show that equilibrium contracts may be incomplete and assign control rights: they may leave some...

A basic model of the choice between entrepreneurship(particularly start-ups) and "intrapreneurship" (business venturing byestablished companies) highlights the key distinction between the two types ofbusiness creation: because internal ventures are funded by firms with relatedprojects, failed...

This paper compares the financing of new ventures in start-ups (entrepreneurship) and in established firms (intrapreneurship). Intrapreneurship allows established firms to use information on failed intrapreneurs to redeploy them into other jobs. By contrast, failed entrepreneurs must seek other...