Spulber, Daniel F.

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Innovative entrepreneurs are the prime movers of the economy. The innovative entrepreneur helps to overcome two types of institutional friction. First, existing firms may not innovate efficiently due to incumbent inertia resulting from adjustment costs, diversification costs, th…

"Innovative entrepreneurs are the prime movers of the economy. The innovative entrepreneur helps to overcome two types of institutional frictions. First, existing firms may not innovate efficiently due to incumbent inertia resulting from adjustment costs, diversification costs, …

"Innovative entrepreneurs are the prime movers of the economy. The innovative entrepreneur helps to overcome two types of institutional frictions. First, existing firms may not innovate efficiently due to incumbent inertia resulting from adjustment costs, diversification costs, …