Simple models of competition for the market with endogenous entry show that, contrary to the Arrow view, an endogenous entry threat in a market induces the average firm to invest less in R&D and the incumbent leader to invest more. We test these predictions based on a unique dataset and survey...

In May 2009 Ulrich Hedtke presented a paper at the Schumpeter School Kolloquium dealing with Schumpeter’s perception of the entrepreneur. In his paper he argues that Schumpeter’s concept of entrepreneurship changed over time, illustrates the transition of Schumpeter’s ideas, and discusses...