Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/18855
Year of Publication: 
2004
Series/Report no.: 
CESifo Working Paper No. 1216
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
Corporate success stories often resemble a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and statusseeking by workers and by consumers can make small initial differences generate large differences over time.
Subjects: 
industry equilibrium
initial luck
status effects
snowball
JEL: 
L13
L00
Document Type: 
Working Paper
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