An evolutionary approach to the theory of entrepreneurship

  • The building blocks of our model are bounded-rational actors with specific sets of endowments: 'entrepreneurial spirit', human capital and venture capital. The entrepreneurial behavior to found a firm is triggered by the individuals' endowments, their social network and the evaluation of the economic situation. Bandwagon effects occur when high growth rates in emerging markets increase firm entries and firm entries in return increase growth rates until competition unfolds its selective power. The firms' survivability is determined by its founders endowments and its competitiveness. If actors are right or wrong in evaluating their economic situation and their consequent decisions is proven ex post. Thus, there will be winners and losers.

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Metadaten
Author:Thomas GrebelORCiDGND, Andreas PykaORCiDGND, Horst HanuschGND
URN:urn:nbn:de:bvb:384-opus4-712576
Frontdoor URLhttps://opus.bibliothek.uni-augsburg.de/opus4/71257
Series (Serial Number):Volkswirtschaftliche Diskussionsreihe (206)
Publisher:Volkswirtschaftliches Institut, Universität Augsburg
Place of publication:Augsburg
Type:Working Paper
Language:English
Year of first Publication:2001
Publishing Institution:Universität Augsburg
Release Date:2020/02/25
Tag:JEL: O3, M13
Pagenumber:21
Note:
Also published in: Applied evolutionary economics and complex systems / ed. by John Foster ... - Cheltenham [u.a.] : Elgar, 2004. - S. 155-180
Institutes:Wirtschaftswissenschaftliche Fakultät
Wirtschaftswissenschaftliche Fakultät / Institut für Volkswirtschaftslehre
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Journals:Volkswirtschaftliche Diskussionsreihe
Licence (German):Deutsches Urheberrecht