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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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-improving. -- Entrepreneurship ; Innovation ; Institutions …
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Are quantitative measures driven by small business activity also valid proxies for high-impact Schumpeterian entrepreneurship? We compile four hand-collected measures of high-impact Schumpeterian entrepreneurship (VC-funded IPOs, self-made billionaire entrepreneurs, unicorn start-ups, and young...
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Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital …
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contrarian, whereas public policy has a bias toward incremental innovation and replication of past success. If central planners … knew what the next radical innovation would be, there would be no need for Schumpeterian entrepreneurs. Schumpeterian … are too complex to design, and central planning instead reduces the space for organic institutional innovation. …
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