Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg School of Management, Northwestern University, where he has taught since 1990. He is also Professor of Law at the Northwestern University Law School (Courtesy). Professor Spulber is the Research Director for the Searle Center on Law, Regulation and Economic Growth. He served as the founding director of Kellogg's International Business and Markets Program. He is also the author of numerous books, including The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations (Cambridge University Press, 2009); Economics and Management of Competitive Strategy (2009); Networks in Telecommunications: Economics and Law (with Christopher Yoo, Cambridge University Press, 2009); and Global Competitive Strategy (Cambridge University Press, 2007). He received his PhD in economics from Northwestern University.

'It is no coincidence that Dan Spulber has written this book on the economic contributions of the innovative entrepreneur's initiative and creativity, as it has been Spulber's own initiative and creativity that has been largely responsible for developing an economic theory of the innovative entrepreneur.' Robert J. Strom, PhD, Ewing Marion Kauffman Foundation

• 1. Introduction; 2. Entrepreneurial motivation: maximizing life-cycle utility; 3. Innovative advantage: entrepreneurial initiative and incumbent inertia; 4. Competitive pressures and entrepreneurial incentives to innovate; 5. Creative destruction: transaction costs and intellectual property rights; 6. Creative destruction: making new combinations; 7. Creative destruction: tacit knowledge; 8. Creative destruction: asymmetric information; 9. The wealth of nations: international trade and investment; 10. Conclusion.

Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg School of Management, Northwestern University, where he has taught since 1990. He is also Professor of Law at the Northwestern University Law School (Courtesy). Professor Spulber is the Research Director for the Searle Center on Law, Regulation and Economic Growth. He served as the founding director of Kellogg's International Business and Markets Program. He is also the author of numerous books, including The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations (Cambridge University Press, 2009); Economics and Management of Competitive Strategy (2009); Networks in Telecommunications: Economics and Law (with Christopher Yoo, Cambridge University Press, 2009); and Global Competitive Strategy (Cambridge University Press, 2007). He received his PhD in economics from Northwestern University.

'It is no coincidence that Dan Spulber has written this book on the economic contributions of the innovative entrepreneur's initiative and creativity, as it has been Spulber's own initiative and creativity that has been largely responsible for developing an economic theory of the innovative entrepreneur.' Robert J. Strom, PhD, Ewing Marion Kauffman Foundation

• 1. Introduction; 2. Entrepreneurial motivation: maximizing life-cycle utility; 3. Innovative advantage: entrepreneurial initiative and incumbent inertia; 4. Competitive pressures and entrepreneurial incentives to innovate; 5. Creative destruction: transaction costs and intellectual property rights; 6. Creative destruction: making new combinations; 7. Creative destruction: tacit knowledge; 8. Creative destruction: asymmetric information; 9. The wealth of nations: international trade and investment; 10. Conclusion.

Daniel F. Spulber is the Elinor Hobbs Distinguished Professor of International Business and Professor of Management Strategy at the Kellogg School of Management, Northwestern University, where he has taught since 1990. He is also Professor of Law at the Northwestern University Law School (Courtesy). Professor Spulber is the Research Director for the Searle Center on Law, Regulation and Economic Growth. He served as the founding director of Kellogg's International Business and Markets Program. He is also the author of numerous books, including The Theory of the Firm: Microeconomics with Endogenous Entrepreneurs, Firms, Markets, and Organizations (Cambridge University Press, 2009); Economics and Management of Competitive Strategy (2009); Networks in Telecommunications: Economics and Law (with Christopher Yoo, Cambridge University Press, 2009); and Global Competitive Strategy (Cambridge University Press, 2007). He received his PhD in economics from Northwestern University.

'It is no coincidence that Dan Spulber has written this book on the economic contributions of the innovative entrepreneur's initiative and creativity, as it has been Spulber's own initiative and creativity that has been largely responsible for developing an economic theory of the innovative entrepreneur.' Robert J. Strom, PhD, Ewing Marion Kauffman Foundation

• 1. Introduction; 2. Entrepreneurial motivation: maximizing life-cycle utility; 3. Innovative advantage: entrepreneurial initiative and incumbent inertia; 4. Competitive pressures and entrepreneurial incentives to innovate; 5. Creative destruction: transaction costs and intellectual property rights; 6. Creative destruction: making new combinations; 7. Creative destruction: tacit knowledge; 8. Creative destruction: asymmetric information; 9. The wealth of nations: international trade and investment; 10. Conclusion.