Resource title

Imperfect Transmission of Tacit Knowledge and other Barriers to Entrepreneurship.

Resource image

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Resource description

This paper identifies several distortions which create barriers to entrepreneurship. First, in addition to the innate entry cost, there are entry costs caused by regulation. Second, union wage policies raise the opportunity cost of entrepreneurship. Third, inefficiencies in the transmission of tacit knowledge between generations of entrepreneurs can arise: with access to within-family ownership transfer, the outside market for entrepreneurship operates as a lemon’s market. This problem becomes relevant when the economic life of a business idea exceeds the active life of an entrepreneur. barriers to entrepreneurship, tacit knowledge, occupational choice

Resource author

Vesa Kanniainen, Panu Poutvaara

Resource publisher

Resource publish date

Resource language

eng

Resource content type

application/pdf

Resource resource URL

http://hdl.handle.net/10398/7711

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