Entrepreneurial exit in real and imagined markets

Entrepreneurs exit their business due to selection pressures experienced in the market place, i.e. business failure. Next to this well known ex-post decision to exit, entrepreneurs select exantewhether they are willing to pursue an entrepreneurial career at all, or to give up theseentrepreneurial intentions. Hardly anything is known about the latter selection process in imagined markets that precedes the variety creation and selection process in real markets. This paper explores and explains the prevalence of these two selection processes using survey data on 20,000 individuals in 27 European countries and the US in 2007. We distinguish business failures from exit by sell-off. Results indicate that individuals in the US are less likely to exit imagined markets, and are more likely to have exited the real market (especially by selling their business) than Europeans. Individuals in a Corporatist welfare state regime have relatively high chances to exit imagined markets. Business owners in urban environments are more likely to fail, while individuals with a high risk tolerance, a high education and self-employed parents are less likely to exit in imagined as well as in real markets (via business failure). This study shows that exit in real and in imagined markets is differently affected by competition and institutions. These selection environments have differential effects on entrepreneurial aspirations and actions of individuals, and provide evidence for the dissimilar nature of exit in real and exit in imagined markets.

Reaching the hydrodynamic regime in a Bose-Einstein condensate by suppression of avalanche

We report the realization of a Bose-Einstein condensate (BEC) in the hydrodynamic regime. The hydrodynamic regime is reached by evaporative cooling at a relative low density suppressing the effect of avalanches. With the suppression of avalanches a BEC containing 120.10^6 atoms is produced. The collisional opacity can be tuned from the collisionless regime to a collisional opacity of more than 3 by compressing the trap after condensation. In the collisional opaque regime a significant heating of the cloud at time scales shorter than half of the radial trap period is measured. This is direct proof that the BEC is hydrodynamic.Comment: Article submitted for Phys. Rev. Letters, 6 figure

Large atom number Bose-Einstein condensate of sodium

We describe the setup to create a large Bose-Einstein condensate containing more than 120x10^6 atoms. In the experiment a thermal beam is slowed by a Zeeman slower and captured in a dark-spot magneto-optical trap (MOT). A typical dark-spot MOT in our experiments contains 2.0x10^10 atoms with a temperature of 320 microK and a density of about 1.0x10^11 atoms/cm^3. The sample is spin polarized in a high magnetic field, before the atoms are loaded in the magnetic trap. Spin polarizing in a high magnetic field results in an increase in the transfer efficiency by a factor of 2 compared to experiments without spin polarizing. In the magnetic trap the cloud is cooled to degeneracy in 50 s by evaporative cooling. To suppress the 3-body losses at the end of the evaporation the magnetic trap is decompressed in the axial direction.Comment: 11 pages, 12 figures, submitted to Review Of Scientific Instrument

Entrepreneurial Exit in Real and Imagined Markets

Entrepreneurs exit their business due to selection mechanisms experienced in the market place. Next to this well known ex-post decision to exit, entrepreneurs select ex-ante whether they are willing to pursue an entrepreneurial career at all, or to give up these entrepreneurial intentions. This paper compares the role of personal and ecological factors as determinants of these two types of selection: exit in real and in imagined markets. Entrepreneurs in imagined markets are more likely to exit in strong welfare state regimes, while real entrepreneurs are more likely to exit when they have low levels of human capital and when they are located in metropolitan areas

Atom lithography of Fe

Direct write atom lithography is a technique in which nearly resonant light is used to pattern an atom beam. Nanostructures are formed when the patterned beam falls onto a substrate. We have applied this lithography scheme to a ferromagnetic element, using a 372 nm laser light standing wave to pattern a beam of iron atoms. In this proof-of-principle experiment, we have deposited a grid of 50-nm-wide lines 186 nm apart. These ultraregular, large-scale, ferromagnetic wire arrays may generate exciting new developments in the fields of spintronics and nanomagnetics. (C) 2004 American Institute of Physics