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

Amihai Glazer, Vesa Kanniainen and Panu Poutvaara

No 1426, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: Corporate success often resembles a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and status-seeking by workers 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)
Pages: 24 pages
Date: 2004-12
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Working Paper: Initial Luck, Status-Seeking and Snowballs Lead to Corporate Success and Failure (2004)
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