NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Learning from Feedback: Evidence from New Ventures

Sabrina T. Howell

NBER Working Paper No. 23874
Issued in September 2017

---- Acknowledgements ----

For especially useful comments, I thank Manuel Adelino, Tom Åstebro, Shai Bernstein, Edward Glaeser, Will Gornall, Boyan Jovanovic, Saul Lach, Augustin Landier, Josh Lerner, Song Ma, Ramana Nanda, David Robinson, Rick Townsend, Annette Vissing-Jørgensen, and participants at the NBER Entrepreneurship Working Group, Yale Junior Finance Conference, IDC Herzliya Eagle Labs Conference, Queens University Economics of Entrepreneurship and Innovation Conference, UC Berkeley-Stanford Innovation and Finance Conference, Georgia State CEAR Conference, and the Tech Scheller seminar. I am also grateful to the Kauffman Foundation, which funded this project. Finally, I thank Adam Rentschler of Valid Evaluation, and all the others who provided the data, including Lea Lueck, Allison Ernst, and Catherine Cronin. Lucy Gong, Sreyoshi Mukherjee, and Jack Reiss provided excellent research assistance. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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