When and how do entrepreneurs sell their inventions? To address this issue, we develop an endogenous entry-sale asymmetric information oligopoly model. We show that lowquality inventions are sold directly or used for own entry. Inventors who sell post-entry use entry to credibly reveal...

We document and quantify the importance of information frictions in the market for startup acquisitions. Examining a sample of 5,727 Israeli venture-backed startups, we implement machine learning algorithms to generate dyads of technologically similar companies. Difference-in-differences and...

This paper studies how early stage entrepreneurs respond to negative feedback about the quality of their ventures using data from new venture competitions. In some competitions, founders are privately informed of their relative rank but did not know there would be feedback ex-ante. The empirical...

Why are some places more entrepreneurial than others? We use Census Bureau data to study local determinants of manufacturing startups across cities and industries. Demographics have limited explanatory power. Overall levels of local customers and suppliers are only modestly important, but new...