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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 more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...
Persistent link: https://www.econbiz.de/10010877893
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High-Technology Entrepreneurship in Silicon Valley Opportunities and Opportunity Costs
Fairlie, Robert; Chatterji, Aaron - NET Institute - 2008
market. A new measure of entrepreneurship derived from matching monthly files from the Current Population Survey (CPS) is … used to provide the first test of the hypothesis that entrepreneurship rates were high in Silicon Valley during the … on only hi-tech industries. Estimates from the matched CPS data indicate that hi-tech entrepreneurship rates were lower …
Persistent link: https://www.econbiz.de/10005622718
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Entrepreneurial Innovations in Network Industries
Norbäck, Pehr-Johan; Persson, Lars; Tag, Joacim - NET Institute - 2008
In this paper, we study entrepreneurial innovations in an industry characterized by network effects. We show that the presence of network externalities tends to make the entrepreneur prefer sale to entry. Moreover, we also show that the incentive to innovate for entry decreases when network...
Persistent link: https://www.econbiz.de/10005622745