where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that … affect the steepness of the lifetime consumption profile. As a consequence, the occupational choice of entrepreneurship …

where growth is driven by the innovative activity of entrepreneurs. Entrepreneurship is risky and requires investments that … affect the steepness of the lifetime consumption profile. As a consequence, the occupational choice of entrepreneurship …

, certain sectors wherein entrepreneurship might reveal itself to be strategic. This is the example of Knowledge intensive … business services (KIBS) as leading vehicles for technological progress, of innovation as well as economic growth, all of which … on knowledge, they are located in urban areas and are considered as an essential element of the innovation system of big …

paper, we analyze a two-stage innovation game between one incumbent and a large number of entrants. In the first stage … innovation. In the second stage, successful entrants bid to be acquired by the incumbent. We assume that entrants cannot survive …&D approaches than the incumbent and are more likely to generate the highest value innovation. Thus, the need of entrants to be …