Although the identification and exploitation of opportunities is central in many modern theories of entrepreneurship, empirical investigations of opportunity types are scarce. This paper empirically explores the distinction between Schumpeterian and Kirznerian opportunities by analyzing survey data of 184 high-tech small business entrepreneurs engaging in opportunity exploitation. First, a mult...

This paper develops a novel interactionist theory of entrepreneurial conduct to explore the nature of Schumpeterian opportunities. Specifically, it draws attention to the significance of social interaction and emotion for the enactment of effective business innovation. Deploying constructs drawn from Randall Collins’s ‘interaction ritual chain theory’, the paper provides a model of the entrepre...

The Covid-19 epidemic is a global challenge requiring adequate public and private responses to overcome the emergency, shape new development trajectories, prepare for future outbreaks. As socioeconomic turning points, epidemics imply an entrepreneurial response in which not only managers entrepreneurs, but also policymakers, health professionals, civil society as whole are active participants. ...

The aim of this article is to apply the Austrian analysis of the entrepreneur to the political process. By distinguishing the political process from the economic process, we will endeavour to show to what extent an analysis in terms of the political market process is both possible and relevant. The existence of an information conveyance which can be assimilated to a price system within the poli...

despite wide-range of studies in the theories of the entrepreneurship field, few studies have offered a pervasive conceptual model or a general consensus of the existing theories. hence, this paper attempts to extend a comprehensive principle on entrepreneurship. in general, there are two common interpretations of the term ‘entrepreneurship’. one of the common views is schumpeterian, emphasizin...

This paper uses data from Major League Baseball and themes from Moneyball by Michael Lewis to empirically illustrate Kirznerian entrepreneurship. While Kirzner envisioned competition in markets for profit, the sports economics literature shows that sporting competition has things in common with market competition. This is important because a strength of sports economics, namely, the abundant da...

Abstract In his influential critique of mainstream economics, Israel Kirzner rejected the notion equilibrated economies in an attempt to develop a realistic account workings entrepreneurial markets. Key Kirznerian analysis are arguments that (i) do not equilibrate because there always exist unexploited opportunities, and (ii) opportunities remain until ‘entrepreneurially alert’ individuals disc...

Purpose – Opportunity recognition is an important aspect on entrepreneurship, especially for technology-based ventures. Drawing on Austrian economic theory, recent studies have emphasized the importance of market knowledge in opportunity recognition. Although insightful, these studies do not take account of relationships that exist between different types of knowledge (e.g. technology and marke...

Over the last three decades entrepreneurship has become a hot topic in economics and management. Much of the entrepreneurship research literature has built upon insights of economists such as Schumpeter, Knight, and Kirzner, each of whom has inspired a distinct strand of entrepreneurship theory and application. Schumpeterian innovation and Kirznerian alertness are the best-known concepts of ent...