1. Introduction; 2. Entrepreneurial motivation: maximizing life-cycle utility; 3. Innovative advantage: entrepreneurial initiative and incumbent inertia; 4. Competitive pressures and entrepreneurial incentives to innovate; 5. Creative destruction: transaction costs and intellectual property rights; 6. Creative destruction: making new combinations; 7. Creative destruction: tacit knowledge; 8. Creative destruction: asymmetric information; 9. The wealth of nations: international trade and investment; 10. Conclusion.
This book presents an economic framework that addresses the motivation of the innovative entrepreneur.
Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg School of Management, Northwestern University, where he has taught since 1990. He is also Professor of Law at the Northwestern University Law School (Courtesy). Professor Spulber is the Research Director for the Searle Center on Law, Regulation and Economic Growth. He served as the founding director of Kellogg's International Business and Markets Program. He is also the author of numerous books, including The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations (Cambridge University Press, 2009); Economics and Management of Competitive Strategy (2009); Networks in Telecommunications: Economics and Law (with Christopher Yoo, Cambridge University Press, 2009); and Global Competitive Strategy (Cambridge University Press, 2007). He received his PhD in economics from Northwestern University.
'It is no coincidence that Dan Spulber has written this book on the
economic contributions of the innovative entrepreneur's initiative
and creativity, as it has been Spulber's own initiative and
creativity that has been largely responsible for developing an
economic theory of the innovative entrepreneur.' Robert J. Strom,
PhD, Ewing Marion Kauffman Foundation
'Having already established himself as one of the leading economic
theorists of entrepreneurship of all time, Dan Spulber applies his
analytical powers to the theory of innovative entrepreneurship, the
most important kind for societies in the long run. This book will
become a classic.' Robert Litan, Director of Research, Bloomberg
Government
'A brilliant and prolific scholar of managerial economics, Daniel
Spulber asks why people with new technologies sometimes start their
own firms. They could develop the technology within existing firms,
but choose to bring it to a new firm instead. The puzzle is not
easy to solve but Spulber nicely does - by identifying the costs
that incumbent firms would incur to readjust their focus, and the
problems that inhere in the market for new technologies. This is a
study that will profoundly change the way that we understand the
role that new firms play in promoting innovation.' J. Mark
Ramseyer, Harvard Law School
'Readers with a good grounding in mathematics and advanced
microeconomic theory should find Spulber's formal analytical
framework and synthesis helpful and informative.' Choice
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