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Entrepreneurship, long neglected by economists and management scholars, has made a dramatic comeback in the last two decades, not only among academic economists and management scholars, but also among policymakers, educators and practitioners. Likewise, the economic theory of the firm, building on Ronald Coase's (1937) seminal analysis, has become an increasingly important field in economics and management. Despite this resurgence, there is still little connection between the entrepreneurship literature and the literature on the firm, both in academia and in management practice. This book fills this gap by proposing and developing an entrepreneurial theory of the firm that focuses on the connections between entrepreneurship and management. Drawing on insights from Austrian economics, it describes entrepreneurship as judgmental decision made under uncertainty, showing how judgment is the driving force of the market economy and the key to understanding firm performance and organization.Read more
- An important contribution to our understanding of entrepreneurship and the economics of the firm that draws heavily on Austrian economics
- Provides useful introductions to research on entrepreneurship and the economics of the firm that are suitable for use in graduate or advanced undergraduate courses
- Management scholars and practitioners uncomfortable or unfamiliar with mathematics will find the book engaging and accessible as it avoids the use of formal mathematics and graphs
- Winner of the 2014 FEE Prize for the Best Book in Austrian Economics
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- Date Published: April 2012
- format: Hardback
- isbn: 9780521874427
- length: 312 pages
- dimensions: 234 x 156 x 18 mm
- weight: 0.62kg
- contains: 3 b/w illus.
- availability: In stock
Table of Contents
List of figures
1. The need for an entrepreneurial theory of the firm
2. What is entrepreneurship?
3. Entrepreneurship: from opportunity discovery to judgment
4. What is judgment?
5. From shmoo to heterogeneous capital
6. Entrepreneurship and the economic theory of the firm
7. Entrepreneurship and the nature and boundaries of the firm
8. Internal organization: original and derived judgment
9. Concluding discussion
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