Entrepreneurship, management, and the structure of payoffs

著者

書誌事項

Entrepreneurship, management, and the structure of payoffs

William J. Baumol

MIT Press, c1993

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注記

Bibliography: p. [291]-302

Includes index

内容説明・目次

内容説明

Baumol studies the effect of the allocation of entrepreneurs between productive and unproductive activities on an economy's performance. Although it is admittedly difficult to theorize and make predictions on the innovative behavior and supply of entrepreneurs, William Baumol shows that by usually failing to incorporate entrepreneurship in their growth models, economists have omitted what can be a key contributor to economic growth. In this book Baumol seeks to bring entrepreneurship back into the body of mainstream economic theory. In particular, he studies the effect of the allocation of entrepreneurs between productive and unproductive activities on an economy's performance. Departing from the orthodox view that imitation retards technical progress by reducing the reward to innovation, Baumol asserts that entrepreneurs can spread and speed the adoption of new technology and ideas throughout a market. By persistently looking to depart from standard practices, entrepreneurs fuel change and help keep an economy from falling into a rut. Often these changes can improve efficiency, increase production, and spur growth. Baumol points out, however, that entrepreneurs do not always, or even usually, behave productively. He devotes several chapters to different types of misallocation of entrepreneurship, such as the mergers and acquisitions of the 1980s and frivolous lawsuits examples of the ways an entrepreneur will find to increase his or her share of the profits rather than produce more. Therefore, Baumol argues, it is important to the vitality of a free-enterprise society to provide incentives for making better use of entrepreneurial resources, and he suggests relevant changes in economic institutions.

目次

  • The Entrepreneur in Economic Theory
  • Entrepreneurship - Productive, Unproductive, and Destructive
  • Enterprising Rent Seeking: The Case of Corporate Takeovers
  • Enterprising Litigation and Entrepreneurs Enmeshed in the Law
  • Innovative Effort and Enterprising Sabotage
  • Innovation as Routine Process and Its Depressing Effect on Profit
  • Models of Optimal Timing of Innovation and Imitation
  • The Rich Mutual Gains from Technology Transfer - Dissemination and the Market Mechanism
  • The Mechanisms of Technology Transfer, I: Enterprising Imitators
  • The Mechanisms of Technology Transfer, II
  • Technology Consortia in Complementary Innovations
  • On Efficiency and the Pricing of Transferred Technology
  • Toward Improved Allocation of Entrepreneurship
  • Epilogue: The Entrepreneur in a Model of Growth.

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