G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3956
DP3956 The Macroeconomics of Shareholder Pressure
David Thesmar
发表日期2003-05-23
出版年2003
语种英语
摘要Innovative ideas are novel combinations of productive resources potentially addressing an economic need (Schumpeter, 1926). Even promising ideas can be unprofitable if the proposed combination fails on at least one dimension, e.g., it is technically unfeasible or does not respond to a genuine customer need. To screen good ideas the entrepreneur needs to hire experts who evaluate the idea along their dimensions of expertise. Yet sharing the idea creates the risk that an expert would steal it. In this case, the idea-thief cannot contact any other expert, lest he should in turn steal the idea. Thus idea stealing leads to incomplete screening and is unattractive if the information of the other expert is critical or highly complementary. In such cases the entrepreneur can form a partnership with the experts. Yet very valuable ideas cannot be shared because it is too tempting to steal them.
主题Financial Economics ; Industrial Organization
关键词Entreprenuership Innovation Experts Information aggregation Venture capital Ideas
URLhttps://cepr.org/publications/dp3956
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/532891
推荐引用方式
GB/T 7714
David Thesmar. DP3956 The Macroeconomics of Shareholder Pressure. 2003.
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