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Innovation in Large and Small Firms

Kenneth Arrow

Journal of Entrepreneurial Finance, 1993, vol. 2, issue 2, 111-124

Abstract: This essay is intended to begin the elaboration of a theme: the interaction between the observed sizes of firms and their internal decision making procedures. This theme is a major one in the symphony of entrepreneurial activity. The entrepreneur, as the maker and changer of economic and productive life, is usually envisaged as an individual. In the neoclassical tradition, he (or, rarely, she) is the lightning calculator, the individual who rapidly scans the field of alternative productive processes and chooses the optimum any given set of prices.

Keywords: Small Firm; Small Business; Innovation (search for similar items in EconPapers)
JEL-codes: O31 L25 M13 (search for similar items in EconPapers)
Date: 1993
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