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The surplus that is created in a successful entrepreneurial venture is much higher than the profit corresponding to the risk-adjusted market rate of return. The part of the surplus that exceeds this level may be denoted "entrepreneurial rent." Such rents normally disappear in the long run but...
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1. The Challenge -- 2. Theories of Growth, Innovation, and Entrepreneurship -- 3. Promoting Entrepreneurship and … Innovation—The Institutional Framework -- 4. Policies to Stimulate Innovation and Entrepreneurship -- 5. Tax Policy to Stimulate … Innovation and Entrepreneurship -- 6. Conclusions: A Framework for Innovation Policy. …
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Innovation often takes place in entrepreneurial ecosystems. We use the history of the Silicon Valley venture capital …
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. The results show that the literature leans towards Schumpeter (1942); innovation returns are modeled as following an ex … ante known probability distribution. By assuming that the outcomes of innovation activities are (probabilistically …
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