Advanced Search
MyIDEAS: Login to save this paper or follow this series

Learning from Failure

Contents:

Author Info

  • Philip R. P. Coelho

    ()
    (Department of Economics, Ball State University)

  • James E. McClure

    ()
    (Department of Economics, Ball State University)

Abstract

Failures may lead to ultimate success in both nature and business. Just as dynamic ecosystems depend on death to replace senescent organisms with vigorous growth, the termination of uneconomic activities is essential to wealth creation. This paper explores the benefits of failures, and uses aspects of the analogy between death and business failure to analyze how failures in business economize upon resources and lead to better firms and greater efficiencies. A distinguishing feature of our work is the analytic use of competitive markets to provide insights into the processes of success and failure. Recognizable patterns of business failures are discussed in an effort to provide entrepreneurs and mangers with a basis for understanding and acting upon changing circumstances.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://econfac.iweb.bsu.edu/research/workingpapers/bsuecwp200402coelho.pdf
File Function: First version, 2004
Download Restriction: no

Bibliographic Info

Paper provided by Ball State University, Department of Economics in its series Working Papers with number 200402.

as in new window
Length: 20 pages
Date of creation: Jan 2004
Date of revision: Jan 2005
Publication status: Published in Mid-American Journal of Business 20 no. 1 (2005): 13-20.
Handle: RePEc:bsu:wpaper:200402

Contact details of provider:
Postal: Muncie, Indiana 47306
Phone: (765) 285-5360
Fax: (765) 285-8024
Web page: http://www.bsu.edu/econ
More information through EDIRC

Related research

Keywords: Entrepreneurship; Business Failure; Evolution; Uncertainty; Learning from Failure;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. George J. Stigler, 1951. "The Division of Labor is Limited by the Extent of the Market," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 59, pages 185.
  2. Audretsch, David B, 1991. "New-Firm Survival and the Technological Regime," The Review of Economics and Statistics, MIT Press, vol. 73(3), pages 441-50, August.
  3. Mata, Jose & Portugal, Pedro, 1994. "Life Duration of New Firms," Journal of Industrial Economics, Wiley Blackwell, vol. 42(3), pages 227-45, September.
  4. John R. Baldwin & Paul K. Gorecki, 1991. "Firm Entry and Exit in the Canadian Manufacturing Sector, 1970-1982," Canadian Journal of Economics, Canadian Economics Association, vol. 24(2), pages 300-323, May.
  5. repec:att:wimass:9211 is not listed on IDEAS
  6. Jovanovic, B. & MacDonald, G., 1993. "The Life Cycle of a Competitive Industry," Working Papers, C.V. Starr Center for Applied Economics, New York University 93-34, C.V. Starr Center for Applied Economics, New York University.
  7. Uma V. Sridharan & Lori Dickes & W. Royce Caines, 2002. "The Social Impact of Business Failure: Enron," American Journal of Business, Emerald Group Publishing, Emerald Group Publishing, vol. 17(2), pages 11-22.
  8. John R. Baldwin & Paul K. Gorecki, 1990. "Firm Entry and Exit in the Canadian Manufacturing Sector," Working Papers, Queen's University, Department of Economics 767, Queen's University, Department of Economics.
  9. Thomas J. Holmes & James A. Schmitz, Jr., 1995. "On the turnover of business firms and business managers," Working Papers 545, Federal Reserve Bank of Minneapolis.
  10. Gort, Michael & Klepper, Steven, 1982. "Time Paths in the Diffusion of Product Innovations," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(367), pages 630-53, September.
  11. Armen A. Alchian, 1950. "Uncertainty, Evolution, and Economic Theory," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 58, pages 211.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Gottschalk, Sandra & Greene, Francis J. & Höwer, Daniel & Müller, Bettina, 2014. "If you don't succeed, should you try again? The role of entrepreneurial experience in venture survival," ZEW Discussion Papers 14-009, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  2. Cope, Jason, 2011. "Entrepreneurial learning from failure: An interpretative phenomenological analysis," Journal of Business Venturing, Elsevier, vol. 26(6), pages 604-623.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:bsu:wpaper:200402. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tung Liu).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.