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Researchers increasingly recognize that entrepreneurial employees, intrapreneurs, play a critical role in innovation. As with regular entrepreneurship, however, the value of intrapreneurial activity depends on the firm-specific and societal reward structures that intrapreneurs face. Ideally,...
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This paper studies the market microstructure of pre-industrial Europe. In particular we investigate the institution of … merchant towns in Central and Western Europe from the late 13th to the end of the 17th century. We show that towns implemented …
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