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Article
Entrepreneurial Opportunity as the Potential to Create Value
Review of Austrian Economics (2013)
  • Peter Lewin, University of Texas at Dallas
Abstract

Unpacking the concept of entrepreneurial-opportunity to include three categories of essential ingredients, provides a fruitful framework for applying Israel Kirzner’s approach to entrepreneurship - bridging the entrepreneur as someone alert to opportunities to create value, to real world situations requiring the entrepreneur’s evaluation of resource-inputs and prospective outputs, and his perception of what actions are necessary and need to be coordinated, in an environment of sufficient mutual understandings. To fully understand entrepreneurial opportunities one must then understand not only how the entrepreneur makes superior evaluations, one must address all of these three categories.

Keywords
  • opportunity,
  • discovery,
  • incentives,
  • Kirzner
Disciplines
Publication Date
November 10, 2013
Citation Information
Peter Lewin. "Entrepreneurial Opportunity as the Potential to Create Value" Review of Austrian Economics Vol. published online (2013)
Available at: http://works.bepress.com/peter_lewin/12/