The Return to Independent Invention: Evidence of Unrealistic Optimism, Risk Seeking or Skewness Loving?

By Tom Åstebro. 2003

241 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/7c4481a392b1d61943585a13ce17d6c2b422ff74

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Citations in the corpus

Seeking the Roots of Entrepreneurship: Insights from Behavioral Economics (2014, unknown): “Entrepreneurs also seem to persist in running businesses for long periods of time despite either low absolute returns (Hamilton 2000; Åstebro 2003) or returns that appear low after controlling for the highly concentrated illiquid stakes they hold in businesses compared to public equity markets…”
Social Interactions and Entrepreneurial Activity (2009, unknown): “The low average returns of individuals who engage in independent inventive activities can be explained similarly (Astebro, 2003).”
Does patenting help high-tech start-ups? (2011, background): “Entrepreneurs are by nature optimistic and expect their projects to be successful, yet there are large failure rates, something that is studied by the literature on rates of return, bank finance and venture capital (Astebro, 2003).”
Overoptimism and the Performance of Entrepreneurial Firms (2006, background): “For example, ?stebro (2003) found that an overwhelming majority of Canadian inventors who submitted their ideas to a nonprofit inventors' assis tance program for counsel on whether to pursue further development were advised to abandon com mercialization efforts.”
The Rise of American Ingenuity: Innovation and Inventors of the Golden Age (2017, unknown): “Yet, the financial returns to inventors in particular are rarely measurable even for modern time periods (e.g., Astebro (2003)).”
The Importance of the Raw Idea in Innovation: Testing the Sow's Ear Hypothesis (2014, methodology): “2001, Astebro 2003, Rogers 1995, Chandy et al. 2006, Kamakura et al. 2006, Eliashberg et al. 2007, Morwitz et al. 2007), none that we know of have used the raw ideas as originally proposed, and many are based on retrospective descriptions of the products. For example, in the work of Goldenberg et al”
The entrepreneurial earnings puzzle: Mismeasurement or real? (2014, background): “1 This section includes edited extracts from Åstebro (2012). 2 The topic has previously been reviewed by, among others, Carter (2011), Parker (2009), and Van Praag and Versloot (2007).”
Muppets and gazelles: political and methodological biases in entrepreneurship research (2014, unknown): “Astebro (2003) investigated the fates of 1091 Canadian innovators who started firms and found that 93% failed to reach the market; of the ones that did reach the market, 60% lost money, and their median financial return (i.e., of the successes) was 7%, with any positive benefits taken by a tiny…”
Entrepreneurship as a non-profit-seeking activity (2009, unknown): “A study by Åstebro (2003), already discussed in “Empirical evidence on the nonprofit-seeking nature of entrepreneurship,” explicitly investigates invention activities by small business owners.”
The development, growth, and performance of university spin-offs: a critical review (2019, background): “Counting the number of USOs created has limitations because the distribution of outcomes is highly skewed; a small number of successes represent the majority of total returns, while most USOs remain small lifestyle businesses (Astebro, 2003; Astebro et al., 2013; Harrison and Leitch, 2010).”