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Are inefficient entrepreneurs driven out of the market?
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Beker, Pablo. (2004) Are inefficient entrepreneurs driven out of the market? Journal of Economic Theory, Vol.114 (No.2). pp. 329-344. ISSN 0022-0531
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Official URL: http://dx.doi.org/10.1016/S0022-0531(03)00126-1
Abstract
This paper challenges the widespread belief that competitive markets favor entrepreneurs who operate efficient technologies. In the context of a dynamically incomplete markets model, I show that, ceteris paribus, entrepreneurs operating efficient technologies can be driven out of a competitive market by entrepreneurs operating inefficient technologies.
| Item Type: | Journal Article |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Social Sciences > Economics |
| Journal or Publication Title: | Journal of Economic Theory |
| Publisher: | Academic Press |
| ISSN: | 0022-0531 |
| Date: | February 2004 |
| Volume: | Vol.114 |
| Number: | No.2 |
| Page Range: | pp. 329-344 |
| Identification Number: | 10.1016/S0022-0531(03)00126-1 |
| Status: | Peer Reviewed |
| Publication Status: | Published |
| Access rights to Published version: | Restricted or Subscription Access |
| Related URLs: | |
| URI: | http://wrap.warwick.ac.uk/id/eprint/42114 |
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