We offer a theory of spinoffs that explains some salient aspects of these important market entrants. In infant industries, a great share of new market opportunities is depleted by firms that spinoff from incumbents. A model emphasizing the relation between incumbents’ evolving corporate...

In infant industries, a great share of new market opportunities is depleted by firms that spinoff from incumbents. A model emphasizing the relation between incumbents' evolving corporate cultures and the generation of spinoffs explains this regularity in industry evolution. Organizations reach a...

This paper shows how cognitive human dispositions that take effect at the level of an individual firm's corporate culture have repercussions on an industry's evolution. In our theory, the latter is attributable to evolving corporate cultures coupled with changes in a firm's business environment....

This paper shows how cognitive human dispositions that take effect at the level of an individual firm's corporate culture have repercussions on an industry's evolution. In our theory, the latter is attributable to evolving corporate cultures coupled with changes in a firm's business environment....

Humans divide themselves up into groups based on a shared cultural identity and common descent. Culturally inherited differences in dress, language, and institutions are often used as symbolic markers of the boundaries of these ethnic groups. Relatively little is known about the function of such...

This article describes and analyses a database on the dynamics of sociopolitical instability in the United States between 1780 and 2010. The database was constructed by digitizing data collected by previous researchers, supplemented by systematic searches of electronic media archives. It...

This paper suggests that stabilizing federalism is like solving a public good provision problem. It reviews results in the public good provision literature that are relevant for federalism, and discusses the implications of these results for the institutional design of federalism. Copyright...

This article examines an important aspect of federalism: the effect of a secession threat on the union's productivity. Productivity requires a compliance maintenance regime with credible punishment. An exit option gives a government the alternative of opting out of the union rather than suffer...

Games of public good provision, collective action, and collusion share concern for the free rider that shirks on its obligations. According to the folk theorem, the free rider problem can be resolved through punishment mechanisms. Versions of the folk theorem have been applied when monitoring is...