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- DescriptionInvative entrepreneurs are the prime movers of the ecomy. The invative entrepreneur helps to overcome two types of institutional friction. First, existing firms may t invate efficiently due to incumbent inertia resulting from adjustment costs, diversification costs, the replacement effect, and imperfect adjustment of expectations. The invative entrepreneur compensates for incumbent inertia by embodying invations in new firms that compete with incumbents. Second, markets for inventions may t operate efficiently due to transaction costs, imperfect intellectual property protections, costs of transferring tacit kwledge, and imperfect information about discoveries. The invative entrepreneur addresses inefficiencies in markets for inventions through own-use of discoveries and adoption of invative ideas. The Invative Entrepreneur presents an ecomic framework that addresses the motivation of the invative entrepreneur, the invative advantage of entrepreneurs versus incumbent firms, the effects of competitive pressures on incentives to invate, the consequences of creative destruction, and the contributions of the invative entrepreneur to the wealth of nations.
- Author BiographyDaniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg School of Management, Northwestern University, where he has taught since 1990. He is also Professor of Law at the Northwestern University Law School (Courtesy). Professor Spulber is the Research Director for the Searle Center on Law, Regulation and Economic Growth. He served as the founding director of Kellogg's International Business and Markets Program. He is also the author of numerous books, including The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations (Cambridge University Press, 2009); Economics and Management of Competitive Strategy (2009); Networks in Telecommunications: Economics and Law (with Christopher Yoo, Cambridge University Press, 2009); and Global Competitive Strategy (Cambridge University Press, 2007). He received his PhD in economics from Northwestern University.
- Author(s)Daniel F. Spulber
- PublisherCambridge University Press
- Date of Publication16/06/2014
- SubjectEconomics: Textbooks & Study Guides
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Content Note24 b/w illus. 5 tables
- Weight850 g
- Width152 mm
- Height228 mm
- Spine25 mm
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