Introduction to a Forum on the Judgment-based Approach to Entrepreneurship: Accomplishments, Challenges, New Directions

Nicolai Juul Foss, Peter G. Klein

    Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

    Abstrakt

    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 entrepreneurship, but a newer research stream is building on Knight's idea of entrepreneurship as judgmental decision-making under uncertainty. What we call the judgment-based view models entrepreneurs as owning, controlling, and combining heterogeneous assets, which differ in their attributes, and deploying these assets within a firm to produce goods and services in anticipation of economic profit. This Forum presents three papers that develop, extend, and challenge the judgment-based view of entrepreneurship, focusing on the foundations of judgment, the processes of entrepreneurial resource assembly, and the relationship between the judgment-based view and other theories of economic organization.
    OriginalsprogEngelsk
    TidsskriftJournal of Institutional Economics
    Vol/bind11
    Udgave nummer3
    Sider (fra-til)585-599
    Antal sider15
    ISSN1744-1374
    DOI
    StatusUdgivet - 2015

    Citationsformater