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. A second class of theories hypothesizes that some places are endowed with a greater supply of entrepreneurship. Evidence … on sales per worker does not support the higher returns for entrepreneurship rationale. Our evidence suggests that … entrepreneurship is higher when fixed costs are lower and when there are more entrepreneurial people. …
Persistent link: https://www.econbiz.de/10010630739
In this paper I develop a general equilibrium model with risk averse entrepreneurial firms and with public firms. The model predicts that an increase in uncertainty reduces the propensity of entrepreneurial firms to innovate, while it does not affect the propensity of public firms to innovate....
Persistent link: https://www.econbiz.de/10005772208
Excess entry – or the high failure rate of market-entry decisions – is often attributed to overconfidence exhibited by entreprene urs. We show analytically that whereas excess entry is an inevitable consequence of imperfect assessments of entrepreneurial skill, it does not imply...
Persistent link: https://www.econbiz.de/10005772370
, the efforts will be addressed to explain the development of Spanish entrepreneurship during the second half of the … twentieth century. To illustrate the change in entrepreneurship and organizational patterns among the Spanish firms during the …
Persistent link: https://www.econbiz.de/10005772517
In analyzing firm entry and exit across Belgian manufacturing industries, this paper presents evidence that import competition and foreign direct investment discourage entry and stimulate exit of domestic entrepreneurs. These results are in line with theoretical occupational choice models that...
Persistent link: https://www.econbiz.de/10005704942
The decade of the 1940s was one of the darkest periods in the country's history, with years of famine, repression, general misery, and impoverishment of all aspects of national life ranging from culture to the economy. During those years plans were made to establish a Spanish motor industry once...
Persistent link: https://www.econbiz.de/10005827441
The Spanish automobile industry had a late start. Although the country proved capable of short production runs of high- quality vehicles during the first third of the century it never managed to build up its own industry, unlike Great Britain, France, or Italy. What then, were the critical...
Persistent link: https://www.econbiz.de/10005772586
In this paper, we design the optimal contract when two agents can collude under asymmetric information. They have correlated types, produce complementary inputs and are protected by limited liability. Therefore, a joint manipulation of reports allows them to internalize informational and...
Persistent link: https://www.econbiz.de/10005015544
I study the optimal project choice when the principal relies on the agent in charge of production for project evaluation. The principal has to choose between a safe project generating a fixed revenue and a risky project generating an uncertain revenue. The agent has private information about the...
Persistent link: https://www.econbiz.de/10005015555
The mathematical representation of Brunswik’s lens model has been used extensively to study human judgment and provides a unique opportunity to conduct a meta-analysis of studies that covers roughly five decades. Specifically, we analyze statistics of the “lens model equation” (Tucker,...
Persistent link: https://www.econbiz.de/10005827439