Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/86814
Authors: 
Koellinger, Philipp
Roessler, Christian
Year of Publication: 
2009
Series/Report no.: 
Tinbergen Institute Discussion Paper 09-105/3
Abstract: 
We develop a new perspective on the boundary of the firm that is consistent with the empirical observation that the share of entrepreneurs first decreases and then increases in the course of economic development. Existing theory based on transaction costs is difficult to relate to these well-established dynamics. Our approach focuses on changing incentives to specialize and adapt, in order to access complementarities that arise from diverse abilities and access to wealth. We discuss why the efficient number of entrepreneurs is bounded and changes in the course of economic development.
Subjects: 
Entrepreneurship
theory of the firm
organizations
economic development
JEL: 
L26
D20
J24
O10
Document Type: 
Working Paper

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