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The surplus that is created in a successful entrepreneurial venture is much higher than the profit corresponding to the risk-adjusted market rate of return. The part of the surplus that exceeds this level may be denoted "entrepreneurial rent." Such rents normally disappear in the long run but...
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Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital …
Persistent link: https://www.econbiz.de/10012660131
. The results show that the literature leans towards Schumpeter (1942); innovation returns are modeled as following an ex … ante known probability distribution. By assuming that the outcomes of innovation activities are (probabilistically …
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