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We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...
Persistent link: https://www.econbiz.de/10011667675
that entrepreneurship has important economic value. Hence, a systematic review is provided that answers the question: What … group'? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals' utility levels …
Persistent link: https://www.econbiz.de/10012750339
. This paper proposes a simple theory of skill-biased change in entrepreneurial technology that fits with cross … a positive relationship between an individual's potential payoffs in working and in entrepreneurship. If some firms … consequence, the entrepreneurship rate falls with income per capita, average firm size and firm size dispersion increase with …
Persistent link: https://www.econbiz.de/10013137516
that entrepreneurship has important economic value. Hence, a systematic review is provided that answers the question: What … group'? A fourth type of contribution studied is the role of entrepreneurship in increasing individuals' utility levels …
Persistent link: https://www.econbiz.de/10010276297
employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We …
Persistent link: https://www.econbiz.de/10011576100
Persistent link: https://www.econbiz.de/10001420860
The literature on unemployment has mostly focused on labor market issues while the impact of capital formation is largely neglected. Job-creation is often thought to be a matter of encouraging more employment on a given capital stock. In contrast, this paper explicitly deals with the long-run...
Persistent link: https://www.econbiz.de/10010495336
We explore empirically the relationship between economic growth, factor inputs, institutions, and entrepreneurship. In … particular, we investigate whether entrepreneurship and institutions, either independently or in combination in an ecosystem … interdependent system of complementarities. We argue that entrepreneurship operating in particular institutional contexts, perhaps …
Persistent link: https://www.econbiz.de/10012944722
The assumption of perfectly functioning labour markets is ubiquitous in growth theory, yet incompatible with equally …
Persistent link: https://www.econbiz.de/10012949535
This paper studies the relationship between the change in the unemployment rate and output growth using an approach based on labor market flows. The framework shows why the Okun coefficient may be constant/time-varying and/or symmetric/asymmetric and that the outcome lies with the behavior of...
Persistent link: https://www.econbiz.de/10012906935