In "new" new international trade theory, whether firms export or not are determined by their productivity. These models … assume that firms enter a market to find their productivity levels revealed to them as in a lottery. In this paper we propose … an alternative way to model whether firms export or not, namely as a firm-level decision akin to an investment decision …

-ups ; stochastic dynamic programming ; trade ; exports ; productivity ; real option theory ; investment ; firms ; international …In "new" new international trade theory, whether firms export or not are determined by their productivity. These models … assume that firms enter a market to find their productivity levels revealed to them as in a lottery. In this paper we propose …

In "new" new international trade theory, whether firms export or not are determined by their productivity. These models … assume that firms enter a market to find their productivity levels revealed to them as in a lottery. In this paper we propose … an alternative way to model whether firms export or not, namely as a firm-level decision akin to an investment decision …

stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …

stochastic shocks imply that investment in radical innovation may very often be too time consuming and/or expensive to remain …

entrepreneurial firms see financial issues and labor market rigidities as significant restrictions for growth. …

as the Ministry of Trade and Industry Publication 29/2006. …

The success of new start-up firms often depends on timing. It is valuable for the potential entrepreneur to wait for …

This paper examines the where, when and why of first round entrepreneurial investment activity in the United States …