My Contributions to Entrepreneurship Theory
The Routledge Companion to the Makers of Modern Entrepreneurship, Forthcoming
Baugh Center for Entrepreneurship and Free Enterprise, Research Working Paper 2016-03
16 Pages Posted: 6 May 2016
Date Written: May 4, 2016
Abstract
I briefly summarize my contributions to entrepreneurship theory, focusing on the links between contemporary entrepreneurship research, the “Austrian” understanding of markets and prices, and the economic theory of the firm. I articulate the “judgment-based approach” to entrepreneurial action and argue that entrepreneurship can and should be more tightly integrated into theories of production and exchange, firm strategy and organization, and public policy and ad-ministration. I also distinguish the judgment-based approach from the opportunity-discovery perspective associated with Israel Kirzner.
Keywords: entrepreneurship, judgment, theory of the firm, equilibrium
JEL Classification: B31, M13, L22
Suggested Citation: Suggested Citation