Schumpeterian entrepreneurship is particularly prominent in high-tech industries where new ideas generated from advanced knowledge are of great importance. But case studies notwithstanding, the data used to analyze entrepreneurship have been dominated by startups in low-growth, low-tech...

Develops a new theory of spinoffs that accounts forthe role of disagreements in the spinoff process. Unlike existing theories, thenew theory can explain the main statistical regularities concerning spinoffs,including why spinoffs often come out of leading firms and why they aresuperior...

The number of producers in the U.S. tire industry grew for 25 years and then declined sharply, and the industry evolved to be an oligopoly. The role of technological change in shaping the industry's market structure is explored. A model of industry evolution featuring technological change is...

Like all politics, all entrepreneurship is local. Individuals launch firms and, if successful, expand their enterprises to other locations. But new firms must start somewhere, even if their businesses are conducted largely or exclusively on the Internet. Likewise, policymakers at local and state...

The number of producers in the U.S. tire industry grew for 25 years and then declined sharply, and the industry evolved to be an oligopoly. The role of technological change in shaping the industry's market structure is explored. A model of industry evolution featuring technological change is...

After their commercial introduction, the number of producers of autos, tires, televisions, and penicillin initially grew and then experienced a sharp decline or shakeout. Guided by an evolutionary model of entry and exit, firm survival patterns in the four products are examined to determine...

We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...