Institutional Affiliation: Purdue University
|Impediments to the Schumpeterian Process in the Replacement of Large Firms|
with : w27871
Using newly-assembled data encompassing up to 75 countries and starting circa 1910, we find that the Schumpeterian process of creative destruction aptly describes the replacement of large firms by other firms, but exceptions to the norm of replacement are not rare and replacement is often not by new firms. Initial firm size and political connections represent the main obstacles to the Schumpeterian process while board interlocks and a corporate culture of innovation play modest roles. Consistent with a theory of political capture, when accompanied by regulations that restrict entry, political connections play a formidable role in abetting large firms remaining large.
|Death by Pokémon GO: The Economic and Human Cost of Using Apps While Driving|
with : w24308
Using police accident reports for Tippecanoe County, Indiana, and exploiting the introduction of the augmented reality game Pokémon GO as a natural experiment, we document a disproportionate increase in crashes and associated vehicular damage, injuries, and fatalities in the vicinity of locations where users can play the game while driving. We estimate the incremental county-wide cost of users playing Pokémon GO while driving to be in the range of $5.2 to $25.5 million over the 148 days following the introduction of the game. Extrapolating these estimates to nation-wide levels yields a total ranging from $2.0 to $7.3 billion.
Published: Mara Faccio & John J. McConnell, 2020. "Death by Pokémon GO: The Economic and Human Cost of Using Apps While Driving," Journal of Risk and Insurance, vol 87(3), pages 815-849.