Resource title

Alertness, Judgment, and the Antecedents of Entrepreneurship

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Resource description

This paper offers a critical perspective on Israel Kirzner’s basic analytical framework.Specifically, we characterize Kirzner’s emphasis on processes of equilibration as adeparture from the causal-realist price theory developed by Menger and his nineteenth- andtwentieth-century followers. In this context, we contrast Kirzner’s interpretation ofentrepreneurship as discovery with a more realistic, and operationally meaningful, idea ofentrepreneurship as action. Finally, we discuss an inconsistency in Kirzner’s treatment ofthe antecedents of entrepreneurial behavior.

Resource author

Nicolai J. Foss, Peter G. Klein

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Resource language

eng

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application/pdf

Resource resource URL

http://hdl.handle.net/10398/8029

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