This paper determines the structural shocks that shape a firm's first year by estimating a structural model of firm growth, learning, and survival using monthly sales histories from 305 Texas bars. We find that heterogeneity in firms' pre-entry scale decisions accounts for about 40% of their...

The behavioral theory of the firm has been acknowledged as one of the most fundamental pillars on which evolutionary theorizing in economics has been built. Nelson and Winter's 1982 book is pervaded by the philosophy and concepts previously developed by Cyert, March and Simon. On the other hand,...

The capability-based view of the firm is based on the assumption that firms know how to do things. Assuming the existence of a thing called 'organizational knowledge', in the first part of the paper we identify its main building blocks and we provide a description of its inner structure. This...

A firm that lacks the specialized complementary assets necessary to commercialize an innovation faces a trade-off between contracting with an incumbent to access those assets and integrating downstream into commercialization. According to the framework developed in the prior literature, under a...

In this paper, we discuss the role of a diverse set of policies aimed at regulating the number and age structure of elections on the size and age structure of five European Academies of Sciences, namely the Austrian, Berlin-Brandenburg, Russian and Norwegian academies and the Royal Society. We...