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Kerr, Sari - 2015

We examine the relationship between house prices and entrepreneurship using micro data from the US Census Bureau …. Increases in house prices are often thought to drive entrepreneurship through unlocking the collateral channel for bank loans … effects (i.e., that people with more valuable homes are more likely to enter entrepreneurship for reasons other than access to …

Persistent link: https://www.econbiz.de/10012457210

Entrepreneurship as Experimentation

Kerr, William R. - 2014

Entrepreneurship research is on the rise but many questions about its fundamental nature still exist. We argue that … entrepreneurship is about experimentation: the probabilities of success are low, extremely skewed and unknowable until an investment is …

Persistent link: https://www.econbiz.de/10012458309

Protecting Minorities in Binary Elections : A Test of Storable Votes Using Field Data

Casella, Alessandra - 2008

Democratic systems are built, with good reason, on majoritarian principles, but their legitimacy requires the protection of strongly held minority preferences. The challenge is to do so while treating every voter equally and preserving aggregate welfare. One possible solution is <i>Storable Votes</i>:...

Persistent link: https://www.econbiz.de/10012464542

Minorities and Storable Votes

Casella, Alessandra - 2005

The paper studies a simple voting system that has the potential to increase the power of minorities without sacrificing aggregate efficiency. Storable votes grant each voter a stock of votes to spend as desidered over a series of binary decisions. By cumulating votes on issues that it deems most...

Persistent link: https://www.econbiz.de/10012467002

Democracy for Polarized Committees : The Tale of Blotto's Lieutenants

Casella, Alessandra - 2016

In polarized committees, majority voting disenfranchises the minority. Allowing voters to spend freely a fixed budget of votes over multiple issues restores some minority power. However, it also creates a complex strategic scenario: a hide-and-seek game between majority and minority voters that...

Persistent link: https://www.econbiz.de/10012456444

Storable Votes and Judicial Nominations in the U.S. Senate

Casella, Alessandra - 2014

We model a procedural reform aimed at restoring a proper role for the minority in the confirmation process of judicial nominations in the U.S. Senate. We analyze a proposal that would call for nominations to the same level court to be collected in periodic lists and voted upon individually with...

Persistent link: https://www.econbiz.de/10012458207

Democracy Undone. Systematic Minority Advantage in Competitive Vote Markets

Casella, Alessandra - 2012

We study the competitive equilibrium of a market for votes where voters can trade votes for a numeraire before making a decision via majority rule. The choice is binary and the number of supporters of either alternative is known. We identify a sufficient condition guaranteeing the existence of...

Persistent link: https://www.econbiz.de/10012460087

Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform

Jensen, Thais Lærkholm - 2014

We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … point increase in entrepreneurship, equivalent to a 4% increase in the number of entrepreneurs. New entrants were more … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …

Persistent link: https://www.econbiz.de/10012458082

Innovation and the Financial Guillotine

Nanda, Ramana - 2013

Our paper demonstrates that while failure tolerance by investors may encourage potential entrepreneurs to innovate, financiers with investment strategies that tolerate early failure endogenously choose to fund less radical innovations. Failure tolerance as an equilibrium price that increases in...

Persistent link: https://www.econbiz.de/10012459282

Networking Frictions in Venture Capital, and the Gender Gap in Entrepreneurship

Howell, Sabrina T. - 2019

. Such frictions can help explain part of the gender gap in entrepreneurship, and also have implications for how to design …

Persistent link: https://www.econbiz.de/10012480392