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Psychologie des entrepreneurs, localisation des activités innovantes et pertes à l'échange international

  • Michel Blanchard
  • Frédéric Peltrault

Following the Green Paper dealing with the entrepreneurship in Europe, the European Commission put forward the thesis that Europe suffers from an “entrepreneurship deficit” in comparison to the us. This paper presents a model dealing with the consequences of managers’ optimism and pessimism behaviour on the localisation of innovative activities and welfare. If at least one country is better off under free trade, numerical simulations show that the other country and the world as a whole can be worse off. Trade liberalization can make worse the under-production or the over-production of the risky good and then increases the distortions that already hold in autarky.

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Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 56 (2005)
Issue (Month): 1 ()
Pages: 127-145

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Handle: RePEc:cai:recosp:reco_561_0127
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  1. Allen, Franklin & Gale, Douglas, 1998. "Diversity of Opinion and Financing of New Technologies," Working Papers 98-29, C.V. Starr Center for Applied Economics, New York University.
  2. de Meza, David & Southey, Clive, 1996. "The Borrower's Curse: Optimism, Finance and Entrepreneurship," Economic Journal, Royal Economic Society, vol. 106(435), pages 375-86, March.
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  7. Thakor, Anjan V., 1996. "The design of financial systems: An overview," Journal of Banking & Finance, Elsevier, vol. 20(5), pages 917-948, June.
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  9. Cooper, Arnold C. & Woo, Carolyn Y. & Dunkelberg, William C., 1988. "Entrepreneurs' perceived chances for success," Journal of Business Venturing, Elsevier, vol. 3(2), pages 97-108.
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