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Seminario CEDE - Andrés Zambrano

  • SeminarioCEDE-2022-03-04-Andres-Zambrano.jpg
Universidad de los Andes
Fecha: 04 de Marzo de 2022
Hora: De 11:00 am hasta 12:20 pm

This paper models an entrepreneur's choice between investing in a safe activity or experimenting with a new risky one, and how much to invest in \entrepreneurial capital" that permits more effective use of arriving information on the latter- how much to learn how to learn. Optimal investment depends on the cost, the distance from the entrepreneurial frontier, and non-monotonically, on the expected return on the risky activity, leading to three learning regimes including a potential resource curse. The model is supported by historical evidence from Latin America and simulations of the relative decline of the Chilean versus US copper industries.

Lugar: Salón RGD-210
Universidad de los Andes