Rigotti, L.; Ryan, M.; Vaithianathan, R. - Tilburg University, Center for Economic Research - 2001
This paper constructs an equilibrium model of entrepreneurial innovation where individuals differ in their attitude … toward uncertainty.Unlike previous models of innovation, the firm-formation process is endogenous.An entrepreneur, who owns …'s willingness to work with the uncertain technology.The general equilibrium setting allows us to explore the impact of innovation on …