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Entrepreneurial Inputs and Outcomes

Entrepreneurial Inputs and Outcomes

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The performance of economies depends upon entrepreneurship. Entrepreneurs identify new opportunities, implement new technologies, provide new products and services, and generally, make an economy vibrant. Yet, little is understood of the institutional structure that supports entrepreneurship or of the economic and sociological factors that encourage entrepreneurial activity. The papers in this volume represent research on these issues. The material is relevant for both an academic and lay audience. Three papers by Kortum and Lerner; Thomas; and Ziedonis and Hall examine the US patent system and its relationship to venture capital, its impact on R&D expenditures and access to new technologies, and its affect on "patent portfolio races." Two others by Prasad, Vozikis, and Bruton, and Quadrini address financing issues, including the importance of private savings by entrepreneurs for self financing of new ventures and for signaling venture qua