Initial Luck, Status-Seeking and Snowballs Lead to Corporate Success and Failure

Amihai Glazer, Vesa Kanniainen and Panu Poutvaara

No CESifo Working Paper No. 1216, CESifo Working Paper Series from CESifo Group Munich

Abstract: Corporate success stories often resemble a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and status-seeking by workers and by consumers can make small initial differences generate large differences over time.

Keywords: industry equilibrium; initial luck; status effects; snowball (search for similar items in EconPapers)
JEL-codes: L00 L13 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-sea
Date: 2004
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Working Paper: Initial Luck, Status-Seeking and Snowballs Lead to Corporate Success and Failure (2004)
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