This paper integrates entrepreneurial reputation into a multi-period model which explores the financing and execution of heterogeneous projects under asymmetric information. We study a model where reputation can be acquired following a history of successful execution but may also be inferred...

There is wide consensus that entrepreneurial talent lies in the ability to discover and exploit market opportunities by taking the relevant risky decisions. By determining the nature of the discovery and exploitation processes, institutions and technology play an essential role in shaping...