| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13198 |
| 来源ID | Working Paper 13198 |
| Spin-offs and the Market for Ideas | |
| Satyajit Chatterjee; Esteban Rossi-Hansberg | |
| 发表日期 | 2007-06-29 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | We propose a theory of firm dynamics in which workers have ideas for new projects that can be sold in a market to existing firms or implemented in new firms: spin-offs. Workers have private information about the quality of their ideas. Because of an adverse selection problem, workers can sell their ideas to existing firms only at a price that is not contingent on their information. We show that the option to spin off in the future is valuable so only workers with very good ideas decide to spin off and set up a new firm. Since entrepreneurs of existing firms pay a price for the ideas sold in the market that implies zero expected profits for them, firms' project selection is independent of their size, which, under some assumptions, leads to scale-independent growth. The entry and growth process of firms in this economy leads to an invariant distribution that resembles the one in the US economy. |
| 主题 | Macroeconomics ; Macroeconomic Models ; Consumption and Investment ; Industrial Organization ; Firm Behavior |
| URL | https://www.nber.org/papers/w13198 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570867 |
| 推荐引用方式 GB/T 7714 | Satyajit Chatterjee,Esteban Rossi-Hansberg. Spin-offs and the Market for Ideas. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13198.pdf（472KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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