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  • Conference proceedings
  • © 2005

Entrepreneurship, the New Economy and Public Policy

Schumpeterian Perspectives

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eBook USD 149.00
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  • ISBN: 978-3-540-26994-6
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Softcover Book USD 199.00
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Table of contents (17 papers)

  1. Front Matter

    Pages I-VI
  2. Editorial

    • Robert F. Lanzillotti, Elias Dinopoulos, Uwe Cantner
    Pages 1-3
  3. Reflections on the Schumpeter I knew well

    • Paul A. Samuelson
    Pages 5-9
  4. Social networks and industrial geography

    • Olav Sorenson
    Pages 55-69
  5. The theory of the firm and the markets for strategic acquisitions

    • Gunnar Eliasson, Åsa Eliasson
    Pages 91-115
  6. Towards an evolutionary interpretation of aggregate labor market regularities

    • Giorgio Fagiolo, Giovanni Dosi, Roberto Gabriele
    Pages 223-252
  7. Innovation and growth in Germany over the past 150 years

    • Hariolf Grupp, Icíar Dominguez Lacasa, Monika Friedrich-Nishio, Andre Jungmittag
    Pages 267-287

About this book

Silicon Valley is the most salient example of high-tech industrial clusters. Public policymakersthroughouttheworldwouldliketolearnthesecretsofSiliconValley in order to build their own high-tech economies. The existing literature on ind- trial clusters, which traces back to Marshall (1920), focuses on the way in which ?rms bene?t from locating in a cluster; it suggests that once a cluster comes into existence, it tends to reinforce itself by attracting more ?rms. However, a more important question is how to reach this critical mass in the ?rst place. In contrast to the literature, evidence suggests that entrepreneurs rarely move when they est- lish high-tech start-ups (Cooper and Folta, 2000). This contradicts the notion that location choice analyses lead entrepreneurs to a high-tech cluster. A high-tech industrial cluster such as Silicon Valley is characterized by c- centratedentrepreneurship. FollowingSchumpeter,weemphasizethefactthat“the appearance of one or a few entrepreneurs facilitates the appearance of others” (Schumpeter,1934). Weproposeanagent-basedcomputationalmodeltoshowhow high-tech industrial clusters could emerge in a landscape in which no ?rms existed originally. The model is essentially a spatial version of the Nelson-Winter model: Boundedly rational agents are scattered over an explicitly de?ned landscape. Each agent is endowed with some technology, which determines his ?rm’s productivity (if he has one). During each period of time, an agent with no ?rm would make a decision as to whether he wants to start one. This decision is mostly affected by the behavior of his social contacts, who are all his neighbors.

Keywords

  • Entrepreneurship
  • Evolutionary
  • New Economy
  • Public Policy
  • Schumpeter
  • Schumpeterian economics
  • agents
  • productivity

Editors and Affiliations

  • Faculty of Economics and Business Administration Chair for Microeconomics, Friedrich-Schiller-University of Jena, Jena, Germany

    Uwe Cantner

  • Department of Economics, University of Florida, Gainesville, USA

    Elias Dinopoulos

  • Graduate School of Business, University of Florida, Gainesville, USA

    Robert F. Lanzillotti

Bibliographic Information

Buying options

eBook USD 149.00
Price excludes VAT (USA)
  • ISBN: 978-3-540-26994-6
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Softcover Book USD 199.00
Price excludes VAT (USA)
Hardcover Book USD 199.00
Price excludes VAT (USA)