Unternehmerisches Handeln ist soziologisch gesehen ein Typus des Handelns, der unter den Bedingungen der Moderne exemplarisch für Handeln überhaupt stehen kann, verbindet es doch Freimut zu riskanter Entscheidung mit dem Anspruch auf rationale Verlässlichkeit: Der Unternehmer kann ebenso...

This paper studies the introduction of new products (increase in product variety) in the automobile industry. The focus is on the two sources of market power that may allow the firms to get higher profits (and, thus, recoup investments): new products and brand-name reputation. The effects of new...

This paper analyses the relationship between past innovation output, competition, and future innovation input in a dynamic econometric setting. We distinguish two dimensions of competition that correspond to the concepts of product substitutability and entry barriers due to fixed costs. Based on...

We consider the provision of venture capital in a dynamic agency model. In particular, we focus on the interaction between venture capital financing and product market competition: A young firm with a risky innovation project attempts to enter a market where it faces two periods of price...