Riding the frontier wave: Unveiling the impact of rugged individualism on small business dynamics during COVID-19

Pankaj C. Patel ()
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Pankaj C. Patel: Villanova School of Business, Villanova University

Journal of Evolutionary Economics, 2025, vol. 35, issue 1, No 1, 33 pages

Abstract: Abstract This study investigates the impact of rugged individualism, a distinctive sociocultural phenomenon rooted in cumulative frontier experiences between 1790 and 1890, on variations in small business establishments and revenues within US counties during the COVID-19 pandemic. Utilizing high-frequency weekly data encompassing 369 counties and spanning from January 4, 2020, to January 29, 2022 (31,460 weekly observations), our analysis revealed that counties with above-median frontier experience demonstrated a 5.32 percentage points smaller decline in business establishments and a 14.2 percentage points less severe reduction in small business revenues compared to counties with below-median frontier experience. Further testing validated the robustness of these effects against placebo considerations, alternate temporal frameworks, pre- and post-COVID-19 county vulnerabilities, and alternative measures of historical frontier experiences. Importantly, these relative performance advantages were not contingent on differences in employment levels or job postings. The findings provide insights into the interplay of cultural variations and entrepreneurial resilience within a national context.

Keywords: Entrepreneurship; Rugged Individualism; Small business; COVID-19; Cultural variation (search for similar items in EconPapers)
JEL-codes: L26 O10 R10 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s00191-025-00889-7

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