This paper is an attempt to explain diffusion in the production of an innovation. Diffusion in production is defined as … innovation. The principal variable that explains diffusion of entry is the demonstration effect. The principal variable that … more familiar problem in the literature on technical change, namely, the diffusion among producers in the use of new …

personality traits, affect selection into self-employment. We link these two lines of inquiry. The model we estimate captures … incorporate personality traits by allowing them to affect sector-specific earnings as well as preferences. The estimated model … reveals that the personality traits that make entrepreneurship profitable are not always the same traits driving people to …

We review the extensive literature since 2000 on the personality traits of entrepreneurs. We first consider baseline … personality traits like the Big-5 model, self-efficacy and innovativeness, locus of control, and the need for achievement. We then … performance connects to entrepreneurial personality, that are woefully understudied and ripe for major advances if the appropriate …

This chapter presents an economic approach to character and personality traits with an application to the study of … economics of virtue ethics. Character traits and personality are not considered immutable in either field. They are shaped by …

Worker mobility across firms can enhance innovation by spreading knowledge, but such mobility may also hinder … innovation by making firms reluctant to invest in R&D. A common way that firms limit workers' mobility is with noncompete … agreements (NCAs). We examine how the legal enforceability of NCAs affects innovation, as measured by patenting, using data on …

This paper develops a model of repeated innovation with knowledge spillovers. The model's novel feature is that firms … compete on two dimensions: 1) product quality or cost, where one firm's innovation ultimately spills over to other firms; and … some circumstances dramatically reduce the long-run average level of innovation; 2) they lead to endogenous bunching, or …