The microtheory of innovative entrepreneurship / William J. Baumol.

Format:

Book

Author/Creator:

Baumol, William J.

Series:

Kauffman Foundation series on innovation and entrepreneurship.

The Kauffman Foundation series on innovation and entrepreneurship

Language:

English

Subjects (All):

Entrepreneurship.

Business.

Physical Description:

1 online resource (263 p.)

Edition:

Course Book

Place of Publication:

Princeton, NJ : Princeton University Press, c2010.

Language Note:

English

Summary:

Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare, yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today, progress has been made to integrate entrepreneurship into macroeconomics, but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs, inventors, and managers into standard models of the firm. William Baumol distinguishes between the innovative entrepreneur, who comes up with new ideas and puts them into practice, and the replicative entrepreneur, which can be anyone who launches a new business venture, regardless of whether similar ventures already exist. Baumol puts forward a quasi-formal theoretical analysis of the innovative entrepreneur's influential role in economic life. In doing so, he opens the way to bringing innovative entrepreneurship into the accepted body of mainstream microeconomics, and offers valuable insights that can be used to design more effective policies. The Microtheory of Innovative Entrepreneurship lays the foundation for a new kind of microtheory that reflects the innovative entrepreneur's importance to economic growth and prosperity.

Contents:

Frontmatter

Figures and Tables

Preface

Introduction

Chapter 1. Entrepreneurship in Economic Theory: Reasons for Its Absence and Goals for Its Restoration

Part I. Pricing, Remuneration, and Allocation of the Agents of Innovation

Chapter 2. Toward Characterization of the Innovation Industry: The David-Goliath Symbiosis

Chapter 3. Entrepreneurship, Invention, and Pricing: Toward Static Microtheory

Chapter 4. Oligopolistic "Red Queen" Innovation Games, Mandatory Price Discrimination, and Markets in Innovation

Part I I . Welfare Theory: Technology Transfer, Imitation, and Creative Destruction

Chapter 5. Optimal Innovation Spillovers: The Growth-Distribution Trade-off

Chapter 6. Enterprising Technology Dissemination: Toward Optimal Transfer Pricing and the Invaluable Contribution of "Mere Imitation"

Chapter 7. The Entrepreneur and the Beneficial Externalities of Creative Destruction

Part III. Institutions, Payoffs, and the Entrepreneur's Choice of Activity: Historical Origins

Chapter 8. Economic Warfare as a "Red Queen" Game: The Emergence of Productive Entrepreneurship

Chapter 9. On the Origins of Widespread Productive Entrepreneurship

Chapter 10. The Allocation of Entrepreneurship Does Matter

Chapter 11. Mega-enterprising Redesign of Governing Institutions: Keystone of Dynamic Microtheory

Chapter 12. Summing Up: Yes, the Theory of Entrepreneurship Is on Its Way

Notes

References

Index

Notes:

Bibliographic Level Mode of Issuance: Monograph

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (publisher's Web site, viewed 23. Mai 2019)

ISBN:

9786612608261

9781282608269

1282608266

9781400835225

1400835224

OCLC:

659549721