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Item Details
Title: THE INNOVATIVE ENTREPRENEUR
By: Daniel F. Spulber
Format: Paperback

List price: £36.99
Our price: £33.29
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10% off
You save: £3.70
ISBN 10: 1107668115
ISBN 13: 9781107668119
Availability: Usually dispatched within 1-3 weeks.
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Publisher: CAMBRIDGE UNIVERSITY PRESS
Pub. date: 16 June, 2014
Pages: 380
Description: This book presents an economic framework that addresses the motivation of the innovative entrepreneur.
Synopsis: 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.
Illustrations: 24 b/w illus. 5 tables
Publication: UK
Imprint: Cambridge University Press
Returns: Returnable
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