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Entrepreneurial and Small Business Operations Commons™
Open Access. Powered by Scholars. Published by Universities.®
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Articles 241 - 245 of 245
Full-Text Articles in Entrepreneurial and Small Business Operations
Team Production In Venture Capital Investing, D. Gordon Smith
Team Production In Venture Capital Investing, D. Gordon Smith
Faculty Scholarship
Entrepreneurs and venture capitalists engage in team production. Inherent in team production is an incentive problem: team members have an incentive to shirk. The incentive to shirk derives from the inability to monitor team members perfectly and compensate them based on productivity. Economic models of team production teach that solutions to shirking must involve (1) a principal (2) with authority to break the budget by realigning the claims of team members through use of a penalty or a bonding arrangement (3) based only on observations of team output, not on monitoring of individual inputs. This paper analyzes the team production …
Franchisor Environmental Liability For Previously Contaminated Property, Patrick J. Kaufmann, William S. Vincent
Franchisor Environmental Liability For Previously Contaminated Property, Patrick J. Kaufmann, William S. Vincent
Faculty and Research Publications
Environmental legislation has created potential liability for retailing franchisees that purchase previously contaminated land. Faced with a decision to distance itself from the site selection process or incur the added costs and potential pricing impacts of greater involvement in the process, franchisors have strong incentives to reduce franchisee support. This reduction in support has detrimental implications for both franchise policy and environmental policy. A paper reports the results of an empirical study that links franchisors' concerns about potential environmental liability to actions to distance themselves from the site selection process or, alternatively, formally to require franchisee environmental investigation of all …
The New Economics Of Jurisdictional Competition: Devolutionary Federalism In A Second-Best World, William W. Bratton, Joseph A. Mccahery
The New Economics Of Jurisdictional Competition: Devolutionary Federalism In A Second-Best World, William W. Bratton, Joseph A. Mccahery
All Faculty Scholarship
No abstract provided.
In Defence Of Exploitation, Justin Schwartz
In Defence Of Exploitation, Justin Schwartz
Justin Schwartz
The concept of exploitation is thought to be central to Marx's Critique of capitalism. John Roemer, an analytical (then-) Marxist economist now at Yale, attacked this idea in a series of papers and books in the 1970s-1990s, arguing that Marxists should be concerned with inequality rather than exploitation -- with distribution rather than production, precisely the opposite of what Marx urged in The Critique of the Gotha Progam.
This paper expounds and criticizes Roemer's objections and his alternative inequality based theory of exploitation, while accepting some of his criticisms. It may be viewed as a companion paper to my What's …
"An Honest Living": Street Vendors, Municipal Regulation, And The Black Public Sphere, Regina Austin
"An Honest Living": Street Vendors, Municipal Regulation, And The Black Public Sphere, Regina Austin
All Faculty Scholarship
No abstract provided.