New business formation is a key driver of regional transformation and development. While we know that a region's attractiveness for new businesses depends on its resources, infrastructure, and human capital, we know little about the role of local business networks in promoting or impeding the...

This paper studies a repeated-game model in which firms can build a reputation for rewarding innovative employees. In any Pareto efficient equilibrium, low-value innovations get developed in established firms, while high-value innovations get developed in startups. The threshold level can be...

Seven “Corporate Venturing” Strategies to Foster Innovation tackles the question: What should companies do to accelerate innovation and remain relevant? Or, stated differently: What should companies do to avoid being disrupted by more agile and innovative startups? One answer is corporate...

Analyzes the uses and functions of business models through original, qualitative case studies focused on research-based spin-offs.

At Thanksgiving 2018, while visiting his video-artist daughter, the author of this paper re-read Atlas Shrugged for the second time, 44 years after first reading, as described in a paper promulgated on SSRN in late January, 2019. Then a few weeks later, at Christmas 2018, while visiting his...

There are works in the economic literature devoted to various aspects of digital platforms’ activities. At the same time, there no published studies examining digital platforms from the point of view of the institutional economy. The digital platform is viewed by the authors from an...

Transaction costs foster the creation of (new) wealth through innovation and entrepreneurship, facilitated by "elementary contracts" – risky, non-traded agreements involving time-separated exchanges. However, the current price theory ignores these crucial realities. This research models the...

New business formation is a key driver of regional transformation and development. While we know that a region’s attractiveness for new businesses depends on its resources, infrastructure, and human capital, we know little about the role of local business networks in promoting or impeding the...

In this paper, we focus on the connections between creativity, social capital and economic performance and growth. Our working hypothesis is that both creativity and social capital influences the economy, both each per se, but also through their influence on each other. We regard creativity as...

The existence of bitcoins and NFTs, and perhaps also the possibility of founding a company on a blockchain network, should have gotten around after 15 years. At present, software engineers continue to work on solutions in Web3, new business activities such as coin minting, blockchain...