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We estimate the effect of college education on business survival using the NLSY79. The endogeneity of both education and business ownership is accounted for by a competing risks duration model augmented with a college selection equation. Contrary to the previous literature, we fi…nd no effect...
Persistent link: https://www.econbiz.de/10011099536
Historically, the American armed forces were disproportionally drawn from lower socioeconomic backgrounds. A transition toward a smaller and more selective military has changed this tendency. Since the armed forces do not gather data on recruits’ family income, previous studies relied on...
Persistent link: https://www.econbiz.de/10011103286
This article presents a formalization of knowledge based on a connectionist model of a firm's structure. Transaction … costs are not ignored, but integrated with the knowledge-based approach. A numerical example on the canonical comparison of …
Persistent link: https://www.econbiz.de/10005561473
. Uniting Schumpeter's concern for innovation with Keynes' concern for uncertainty and expectations formation, this article … focuses on the behaviour of entrepreneurs confronting uncertainty caused by innovation. Entrepreneurs' behaviour is … opened up by a successful innovation generates a state of optimism in the minds of single entrepreneurs, which eventually …
Persistent link: https://www.econbiz.de/10005077089
entrepreneurial effort, entrepre-neurial innovation and capital investment. Because of these constraints, the entrepreneurial project …
Persistent link: https://www.econbiz.de/10005082489
Previous research, notably Baumol (1990), has highlighted the role of insti-tutions in channeling entrepreneurial supply into productive, unproductive or destructive activities. However, entrepreneurship is not only influenced by institutions—entrepreneurs often help shape institutions...
Persistent link: https://www.econbiz.de/10008599461
Shafer's evidence theory is a branch of the mathematics of uncertain reasoning that allows for novel possibilities to be conceived by a decision-maker. Many of its findings exhibit striking similarities with an alternative decision theory purported by Shackle in the 1950s, before expected...
Persistent link: https://www.econbiz.de/10005125582
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 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
strong performance in technological innovation. …
Persistent link: https://www.econbiz.de/10011095045