IDEAS home Printed from https://ideas.repec.org/a/bpj/jeehcn/v12y2002i1n10.html
   My bibliography  Save this article

Kirznerian Entrepreneurship and The Economics of Science

Author

Listed:
  • Butos William N.

    (Trinity College)

  • Boettke Peter J.

    (George Mason University)

Abstract

The paper distinguishes two types of entrepreneurial activity in terms of their institutionally relevant contexts. Type 1 (Kirznerian) entrepreneurship refers to catallactic activity in which coordinating mechanisms, operating via the exchange of property rights, generates market prices. We identify Type 2 entrepreneurship with noncatallactic processes.The paper argues that scientific activity, despite exhibiting characteristics congenial to the economic way of thinking, cannot be generally studied as a catallactic process under prevailing institutional arrangements. Recent changes in the institutional context of science, however, suggest a widening scope for treating science as a market activity.Cet article fait la distinction entre deux types d'activité entrepreneuriale suivant les contextes institutionnels où ils apparaissent. Le premier type (kirznerien) d'activité entrepreneuriale s'inscrit dans un cadre catallactique où les mécanismes de coordination opérant à travers l'échange des droits de propriété génèrent les prix marchands. Le second type d'activité entrepreneuriale que nous identifions relève de processus non catallactiques. L'article soutient que, même si elle présente des caractéristiques qui pourraient relever de la pensée économique, l'activité scientifique telle qu'elle est pratiquée dans les conditions institutionnelles actuelles, ne peut en général pas être étudiée comme un processus catallactique.Cependant, les changements récents dans le contexte institutionnel de la science suggèrent la possibilité grandissante d'envisager la science comme une activité marchande.

Suggested Citation

  • Butos William N. & Boettke Peter J., 2002. "Kirznerian Entrepreneurship and The Economics of Science," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 12(1), pages 1-14, March.
    • Handle: RePEc:bpj:jeehcn:v:12:y:2002:i:1:n:10
    DOI: 10.2202/1145-6396.1052
    as

    Download full text from publisher

    File URL: https://doi.org/10.2202/1145-6396.1052
    Download Restriction: For access to full text, subscription to the journal or payment for the individual article is required.
    File URL: https://libkey.io/10.2202/1145-6396.1052?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Peter J. Boettke (ed.), 1994. "The Elgar Companion to Austrian Economics," Books, Edward Elgar Publishing, number 53.
    2. James Wible, 1994. "Charles Sanders Peirce's economy of research," Journal of Economic Methodology, Taylor & Francis Journals, vol. 1(1), pages 135-160.
    3. Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67(3), pages 297-297.
    4. Butos William Ν. & Koppl Roger, 1999. "Hayek And Kirzner At The Keynesian Beauty Contest," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 9(2-3), pages 1-20, June.
    5. Esther-Mirjam Sent, 1999. "Economics of science: survey and suggestions," Journal of Economic Methodology, Taylor & Francis Journals, vol. 6(1), pages 95-124.
    6. Hirshleifer, Jack, 1971. "The Private and Social Value of Information and the Reward to Inventive Activity," American Economic Review, American Economic Association, vol. 61(4), pages 561-574, September.
    7. Peter J. Boettke & David L. Prychitko (ed.), 1994. "The Market Process," Books, Edward Elgar Publishing, number 54.
    8. Israel M. Kirzner, 1997. "Entrepreneurial Discovery and the Competitive Market Process: An Austrian Approach," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 60-85, March.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Raymond J. March & Adam G. Martin & Audrey Redford, 2016. "The substance of entrepreneurship and the entrepreneurship of substances," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 5(2), pages 201-220, August.
    2. March, Raymond J. & Geloso, Vincent, 2020. "Gordon Tullock meets Phineas Gage: The political economy of lobotomies in the United States," Research Policy, Elsevier, vol. 49(1).
    3. Peter J. Boettke & Christopher J. Coyne & Peter T. Leeson, 2014. "Earw(h)ig: I can’t hear you because your ideas are old," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(3), pages 531-544.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michael Litschka & Kristoffel Grechenig, 2010. "Law by human intent or evolution? Some remarks on the Austrian school of economics’ role in the development of law and economics," European Journal of Law and Economics, Springer, vol. 29(1), pages 57-79, February.
    2. Darcy W E Allen, 2020. "When Entrepreneurs Meet:The Collective Governance of New Ideas," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number q0269, January.
    3. Darcy W.E. Allen, 2019. "Governing the entrepreneurial discovery of blockchain applications," Journal of Entrepreneurship and Public Policy, Emerald Group Publishing Limited, vol. 9(2), pages 194-212, October.
    4. Leonid Krasnozhon & John Levendis, 2015. "Mises and prediction markets: Can markets forecast?," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(1), pages 41-52, March.
    5. Wolfgang Kerber & Simonetta Vezzoso, 2004. "EU Competition Policy, Vertical Restraints, and Innovation: An Analysis from an Evolutionary Perspective," Marburg Working Papers on Economics 200414, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    6. David Moroz, 2005. "Production of Scientific Knowledge and Radical Uncertainty: The Limits of the Normative Approach in Innovation Economics," European Journal of Law and Economics, Springer, vol. 20(3), pages 305-322, November.
    7. Marek Hudik, 0. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 0, pages 1-20.
    8. Philippe DULBECCO & Jean-Pierre ALLEGRET & COURBIS, 1999. "Financial Liberalisation and Stability of the Financial System in Emerging Markets: the institutional dimension of financial crises," Working Papers 199918, CERDI.
    9. William Butos, 2003. "Knowledge Questions: Hayek, Keynes and Beyond," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 16(4), pages 291-307, December.
    10. Thomas Mayer, "undated". "Boettke'S Austrian Critique Of Mainstream Economics: An Empiricist'S Response," Department of Economics 97-31, California Davis - Department of Economics.
    11. Oliver Budzinski & Arndt Christiansen, 2007. "The Oracle/PeopleSoft Case: Unilateral Effects, Simulation Models and Econometrics in Contemporary Merger Control," Marburg Working Papers on Economics 200702, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    12. Giandomenica Becchio, 2018. "Gender, Feminist and Heterodox Economics: Interconnections and Differences in a Historical Perspective," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 5-24, March.
    13. Marek Hudik, 2020. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 89(3), pages 349-368, October.
    14. Anders Liljenberg, 2005. "A Socio‐Dynamic Understanding of Markets," American Journal of Economics and Sociology, Wiley Blackwell, vol. 64(4), pages 999-1023, October.
    15. Trofimov, Ivan D., 2017. "International policy entrepreneurship and production of international public goods: the case of multilateral trade regime," MPRA Paper 80819, University Library of Munich, Germany.
    16. Davis, Lee, 1999. "R&D Investments, Information and Strategy," Working Papers 10-1999, Copenhagen Business School, Department of International Economics and Management.
    17. David Dequech, 2008. "Varieties of uncertainty: a survey of the economic literature," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807211223070, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    18. Stefan W. Schmitz, 2004. "Uncertainty in the Austrian Theory of Capital," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 17(1), pages 67-85, March.
    19. Trofimov, Ivan, 2017. "Entrepreneurship and policy dynamics: a theoretical framework," MPRA Paper 79497, University Library of Munich, Germany.
    20. Fikret Adaman & Pat Devine, 2002. "A Reconsideration of the Theory of Entrepreneurship: A participatory approach," Review of Political Economy, Taylor & Francis Journals, vol. 14(3), pages 329-355.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bpj:jeehcn:v:12:y:2002:i:1:n:10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.degruyter.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.