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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are …
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We are grateful for the comments to our article, and for the opportunity to respond to them. In our original contribution, we argued that the application of the EOE perspective could help make Austrian economics more concrete, relevant and persuasive, especially regarding policy prescriptions....
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Are quantitative measures driven by small business activity also valid proxies for high-impact Schumpeterian entrepreneurship? We compile four hand-collected measures of high-impact Schumpeterian entrepreneurship (VC-funded IPOs, self-made billionaire entrepreneurs, unicorn start-ups, and young...
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-impact Schumpeterian entrepreneurship relative to the U.S. Once we account for Europe’s strong performance in technological innovation, an …
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innovation bloc into their study of spontaneous market order. We demonstrate how successful entrepreneurship depends on an … innovation bloc of this kind, a system of innovation that evolves and within which activity takes place through time. The … innovation bloc consists of five pools of economic skills from which people are drawn or recruited to form part of a …
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