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The Organization of the Innovation Industry: Entrepreneurs, Venture Capitalists and Oligopolists

Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2006

Exit of venture-backed firms often takes place through sales to large incumbent firms. We show that in such an environment, venture-backed firms have a stronger incentive to develop basic innovations into commercialized innovations than incumbent firms, due to strategic product market effects....

Persistent link: https://www.econbiz.de/10005791605

Creative Destruction and Productive Preemption

Norbäck, Pehr-Johan; Persson, Lars; Svensson, Roger - C.E.P.R. Discussion Papers - 2011

We develop a theory of innovation for entry and sale into oligopoly, and show that an invention of higher quality is …

Persistent link: https://www.econbiz.de/10008865973

Venture Capital, Patenting, and Usefulness of Innovations

Fabrizi, Simona; Lippert, Steffen; Norbäck, Pehr-Johan; … - C.E.P.R. Discussion Papers - 2011

We analyze incentives to develop entrepreneurial ideas for venture capitalists (VCs) and incumbent firms. If VCs are sufficiently better at judging an idea's value and if it is sufficiently more costly to patent low than high value ideas, VCs acquire valuable ideas, develop them beyond the level...

Persistent link: https://www.econbiz.de/10009643508

Entrepreneurial Innovations, Entrepreneurship Policy and Globalization

Douhan, Robin; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2010

What explains the world-wide trend of pro-entrepreneurial policies? We study entrepreneurial policy in a lobbying model taking into account the conflict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more pro-entrepreneurial policies....

Persistent link: https://www.econbiz.de/10008530366

Entrepreneurial innovations and taxation

Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - In: Journal of Public Economics 113 (2014) C, pp. 13-31

entrepreneurs' choice of riskiness (or quality) of an innovation project, and on their mode of commercializing the innovation … choose projects with inefficiently little risk. The same distortion does not arise when entrepreneurs sell their innovation …

Persistent link: https://www.econbiz.de/10011056208

Acquisitions, entry, and innovation in oligopolistic network industries

Norbäck, Pehr-Johan; Persson, Lars; Tå̊g, Joacim - In: International Journal of Industrial Organization 37 (2014) C, pp. 1-12

option of selling to an incumbent increases the innovation incentives for entrepreneurs when the network effects are strong … not necessarily restrict the innovation incentives and that network effects promote acquisitions over entry. …

Persistent link: https://www.econbiz.de/10011117298

Entrepreneurship policy and globalization

Norbäck, Pehr-Johan; Persson, Lars; Douhan, Robin - In: Journal of Development Economics 110 (2014) C, pp. 22-38

What explains the world-wide trend of pro-entrepreneurial policies? We study entrepreneurial policy in the form of entry costs in a lobbying model taking into account the conflict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more...

Persistent link: https://www.econbiz.de/10011065943

Entrepreneurial innovations and taxation

Haufler, Andreas; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2012

entrepreneurs’ choice of riskiness (quality) of an innovation project, and on their mode of commercializing the innovation (market …

Persistent link: https://www.econbiz.de/10011083431

Acquisitions, Entry, and Innovation in Network Industries

Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim Ingemar - C.E.P.R. Discussion Papers - 2013

option of selling to an incumbent increases innovation incentives for entrepreneurs when network effects are strong and … necessarily restrict innovation incentives. We also show that network effects promote acquisitions over entry and that the … entrepreneur has strong incentives to invest in the initial user base of the innovation. …

Persistent link: https://www.econbiz.de/10011083667

Extreme Wage Inequality: Pay at the Very Top

Bell, Brian D.; Reenen, John Van - In: American Economic Review 103 (2013) 3, pp. 153-57

We provide new evidence on the growth in pay at the very top of the wage distribution in the United Kingdom. Sectoral decompositions show that workers in the financial sector have accounted for the majority of the gains at the top over the last decade. New results are also presented on the pay...

Persistent link: https://www.econbiz.de/10010815747