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Where does entrepreneurship start? Moreover, what is so different about entrepreneurship in this New Age of innovation? What do entrepreneurs do when the world becomes more ‘flat’? According to The Entrepreneurial Society by David Audretsch something novel is happening, something only Schumpeter (1942) …

We study optimal incentive contracts for workers who are reciprocal to management attention. When neither worker’s effort nor manager’s attention can be contracted, a double moral-hazard problem arises, implying that reciprocal workers should be given weak financial incentives. In a multiple-agent setting, …

This paper analyzes the internationalization strategies of biotech firms in the Netherlands. We find that many of these firms are born internationals in the sense that from their inception they are actively engaged in international cooperation. However, we find that the nature of potential intellectual …

Vast empirical evidence underscores that exporting firms are more productive than non-exporters. As governments accordingly pursue export-promoting policies we are interested in the firmness of these conclusions with respect to African small and medium sized enterprises (SMEs) and the influence of the …

We study the relation between formal incentives and social exchange in organizations where employees work for several managers and reciprocate a manager’s attention with higher effort. To this end we develop a common agency model with two-sided moral hazard. We show that when management attention is …

This paper reviews how economic modelling provides a deeper understanding of drug markets. The exercise focuses on ‘soft drugs’ (cannabinoids) in the Netherlands and outlines the effects of prohibition and legalisation. The purpose is to present an overview of analytical tools to non-economists. Based …