Allocation of entrepreneurial attention

Article Abstract:

The role of limited attention, including entrepreneurial attention, in economic behavior and its impact on organizational design are discussed. Since limited attention is viewed as a scarce resource for allocation among alternative uses, its economic use is geared toward either improving current operations or innovating new products, which increases the number of current operations and potentially the demands on the entrepreneur's attention. The number of uses to which attention can be distributed and the opportunity cost involved therein are thus of prime economic concern.

Analysis, Attention (Psychology), Entrepreneurship, Attention

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Innovation, firm size and growth in a centralized organization

Article Abstract:

Entrepreneurial attention allocation in centralized firms maintains operations and innovations and keeps them updated. The model shows that projects tend to fail and become obsolete. The optimal policy is either an age-inspection rule or an innovate-and-discard rule. Both are affected by the degree of obsolescence. Innovation depends on technological opportunity and firm size in age-inspection while in the innovate-and-discard-rule it is constant and equal to one.

Management, Business, Innovations, Controllership

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Efficient moral hazard

Article Abstract:

Endogenous opportunity costs are assessed where agents' efforts are spread out among numbers of principals that are endogenous.

Economics, Research and Development in the Social Sciences and Humanities, Research, Agency theory, Opportunity cost, Opportunity costs

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