To what extent can one infer that superior capabilities are driving sustained superior performance? Modeling performance as some combination of differences in capabilities and processes of cumulative advantage, we argue that a Bayesian framework in which decision makers take into account the...

As emphasized by Barney (1986), any explanation of superior profitability must account for why the resources supporting such profitability could have been acquired for a price below their rent generating capacity. Building upon the literature in economics on coordination failures and incomplete...

As emphasized by Barney (1986), any explanation of superior profitability must account for why the resources supporting such profitability could have been acquired for a price below their rent generating capacity. Building upon the literature in economics on coordination failures and incomplete...

Many organizational actions need not have any immediate or direct payoff consequence but set the stage for subsequent actions that bring the organization toward some actual payoff. Learning in such settings poses the challenge of credit assignment (Minsky 1961), that is, how to assign credit for...

Successfully predicting that something will become a big hit seems impressive. Managers and entrepreneurs who have made successful predictions and have invested money on this basis are promoted, become rich, and may end up on the cover of business magazines. In this paper, we show that an...

Although entrepreneurial activity is an important part of a capitalist economy, data about U.S. businesses in their early years of operation have been extremely limited. As part of an effort to gather more data on new businesses in the United States, the Ewing Marion Kauffman Foundation (the...

This report presents 30-month impact and benefit-cost analysis findings for the Building Nebraska Families program, an intensive home visitation and life skills education program for hard-to-employ TANF clients in rural Nebraska. The program improved employment near the end of the 30-month...