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Schumpeterian Entrepreneurship

  • Steven Klepper

    (Carnegie Mellon University)

  • Atsushi Ohyama

    (University of Illinois, Urbana-Champaign)

  • Serguey Braguinsky

    (Carnegie Mellon University)

Based on recent findings concerning the best performing startups, we develop a model of Schumpeterian entrepreneurship in which founders exploit ideas they learned through their employment. The model yields distinctive implications about how labor market experience and earnings at work influence the probability of a worker becoming an entrepreneur, earnings as an entrepreneur relative to paid work, and persistence in entrepreneurship. These implications are tested using data on the earnings of scientists and engineers, which are common founders of high growth startups. The sample is pared down to those that worked in and founded businesses related to their education in order to isolate the best candidates for Schumpeterian entrepreneurship.

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File URL: https://www.economicdynamics.org/meetpapers/2009/paper_772.pdf
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Paper provided by Society for Economic Dynamics in its series 2009 Meeting Papers with number 772.

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Date of creation: 2009
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Handle: RePEc:red:sed009:772
Contact details of provider: Postal: Society for Economic Dynamics Christian Zimmermann Economic Research Federal Reserve Bank of St. Louis PO Box 442 St. Louis MO 63166-0442 USA
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Web page: http://www.EconomicDynamics.org/society.htm
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  1. Gary S. Murphy Becker & Kevin M., 1992. "The Division of Labor, Coordination Costs, and Knowledge," University of Chicago - George G. Stigler Center for Study of Economy and State 79, Chicago - Center for Study of Economy and State.
  2. De Meza, D. & Southey, C., 1995. "The Borrower's Curse: Optimism, Finance and Enterpreneurship," Discussion Papers 9502, Exeter University, Department of Economics.
  3. Bruno Cassiman & Masako Ueda, 2006. "Optimal Project Rejection and New Firm Start-ups," Management Science, INFORMS, vol. 52(2), pages 262-275, February.
  4. Evans, David S & Leighton, Linda S, 1989. "Some Empirical Aspects of Entrepreneurship," American Economic Review, American Economic Association, vol. 79(3), pages 519-35, June.
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