THE SEARCH FOR ENTREPRENEURIAL OPPORTUNITY

This paper presents a conceptual framework which can be used to analyse the process of entrepreneurial opportunity discovery. An opportunity can be considered as a project whose exploitation would be advantageous to the entrepreneur. The entrepreneur has to use judgment in deciding which projects ar...

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Bibliographic Details
Published in:History of economic ideas 2007-01, Vol.15 (1), p.137-158
Main Authors: Casson, Mark, Wadeson, Nigel
Format: Article
Language:English
Subjects:
Economic costs
Economic models
Economic resources
Entrepreneurs
Entrepreneurship
Factor markets
Free market economies
INNOVATIONS AND CREATIVE DESTRUCTION
Market competition
Resource economics
Supply
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Summary:This paper presents a conceptual framework which can be used to analyse the process of entrepreneurial opportunity discovery. An opportunity can be considered as a project whose exploitation would be advantageous to the entrepreneur. The entrepreneur has to use judgment in deciding which projects are most worthwhile to put into operation. One important aspect of this is the question of how the entrepreneur is to apply judgment in deciding what information to gather, given the need to economise on the costs of doing so.
ISSN:1122-8792
1724-2169