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portada The Innovative Entrepreneur
Type
Physical Book
Publisher
Author
Year
2014
Language
English
Pages
380
Format
Paperback
ISBN13
9781107668119
Categories

The Innovative Entrepreneur

Daniel F. Spulber (Author) · Cambridge University Press · Paperback

The Innovative Entrepreneur - Daniel F. Spulber

New Book Imported to South Africa
Delivery: 13 Aug - 21 Aug Shipping: 4 to 5 business days.
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Synopsis "The Innovative Entrepreneur "

Innovative entrepreneurs are the prime movers of the economy. The innovative entrepreneur helps to overcome two types of institutional frictions. First, existing firms may not innovate efficiently due to incumbent inertia resulting from adjustment costs, diversification costs, the replacement effect, and imperfect adjustment of expectations. The innovative entrepreneur compensates for incumbent inertia by embodying innovations in new firms that compete with incumbents. Second, markets for inventions may not operate efficiently due to transaction costs, imperfect intellectual property protections, costs of transferring tacit knowledge, and imperfect information about discoveries. The innovative entrepreneur addresses inefficiencies in markets for inventions through own-use of discoveries and adoption of innovative ideas. The Innovative Entrepreneur presents an economic framework that addresses the motivation of the innovative entrepreneur, the innovative advantage of entrepreneurs versus incumbent firms, the effects of competitive pressures on incentives to innovate, the consequences of creative destruction, and the contributions of the innovative entrepreneur to the wealth of nations.

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