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Innovation in Large and Small Firms

Author

Listed:
  • Kenneth J. Arrow

    (Stanford University)

Abstract

This essay is intended to begin the elaboration of a theme: the interaction between the observed sizes of firms and their internal decision making procedures. This theme is a major one in the symphony of entrepreneurial activity. The entrepreneur, as the maker and changer of economic and productive life, is usually envisaged as an individual. In the neoclassical tradition, he (or, rarely, she) is the lightning calculator, the individual who rapidly scans the field of alternative productive processes and chooses the optimum any given set of prices.

Suggested Citation

  • Kenneth J. Arrow, 1993. "Innovation in Large and Small Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 2(2), pages 111-124, Spring.
  • Handle: RePEc:pep:journl:v:2:y:1993:i:2:p:111-124
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    1. repec:eee:respol:v:46:y:2017:i:6:p:1118-1132 is not listed on IDEAS

    More about this item

    Keywords

    Small Firm ; Small Business ; Innovation;

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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