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Persistence and heterogeneity in entrepreneurship: An evolutionary game theoretic analysis

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  • Kuechle, Graciela

Abstract

Studies show that countries exhibit a relatively stable level of entrepreneurial activity. To account for this fact, we adopt an evolutionary game theoretic approach. Based upon the analysis of games that capture essential features of the entrepreneurial phenomenon, we ascertain conditions under which evolutionary stable equilibria will be played by a population consisting of agents who engage in entrepreneurship and agents who do not. We show that entrepreneurship may persist even without assuming strategic complementarities or group selection. Lastly, we explain how information about equilibrium payoffs to self- and paid employment could help address the question of whether entrepreneurs differ from other economic agents.

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  • Kuechle, Graciela, 2011. "Persistence and heterogeneity in entrepreneurship: An evolutionary game theoretic analysis," Journal of Business Venturing, Elsevier, vol. 26(4), pages 458-471, July.
    • Handle: RePEc:eee:jbvent:v:26:y:2011:i:4:p:458-471
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    2. Te Klangboonkrong & Ning Baines, 2021. "Disability entrepreneurship research: review and critical reflection through the lens of individual-opportunity nexus," Working Papers 51, Birkbeck Centre for Innovation Management Research, revised Apr 2021.
    3. Parker, Simon C., 2020. "Editorial: On submitting economics articles to JBV," Journal of Business Venturing, Elsevier, vol. 35(4).
    4. Graciela Kuechle, 2019. "The contribution of behavior genetics to entrepreneurship: An evolutionary perspective," Journal of Evolutionary Economics, Springer, vol. 29(4), pages 1263-1284, September.
    5. Zhihan Chen & Weilun Huang, 2023. "Evolutionary Game Analysis of Governmental Intervention in the Sustainable Mechanism of China’s Blue Finance," Sustainability, MDPI, vol. 15(9), pages 1-37, April.

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