Entrepreneurship, information, and economic growth
This thesis analyzes the impact of entrepreneurship on economic growth across US cities within a formal production function approach. Like previous analyses of economic growth--but unlike many studies of entrepreneurship--economic growth is measured in personal income per worker. The production function features three traditional inputs with a novel fourth: entrepreneurial capital. Entrepreneurship is a process of information revelation which produces a dynamic externality providing marketplace information to potential future market entrants, outside firms, lenders and others. Entrepreneurial ...
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