The Innovative Entrepreneur 2014 Edition at Meripustak

The Innovative Entrepreneur 2014 Edition

Books from same Author: Daniel F. Spulber

Books from same Publisher: Cambridge

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  • General Information  
    Author(s)Daniel F. Spulber
    PublisherCambridge
    ISBN9781107047259
    Pages380
    BindingHardback
    LanguageEnglish
    Publish YearSeptember 2014

    Description

    Cambridge The Innovative Entrepreneur 2014 Edition by Daniel F. Spulber

    Innovative entrepreneurs are the prime movers of the economy. The innovative entrepreneur helps to overcome two types of institutional friction. 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.