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Organizing Entrepreneurial Judgment

Author

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  • Foss,Nicolai J.
  • Klein,Peter G.

Abstract

Entrepreneurship, long neglected by economists and management scholars, has made a dramatic comeback in the last two decades, not only among academic economists and management scholars, but also among policymakers, educators and practitioners. Likewise, the economic theory of the firm, building on Ronald Coase's (1937) seminal analysis, has become an increasingly important field in economics and management. Despite this resurgence, there is still little connection between the entrepreneurship literature and the literature on the firm, both in academia and in management practice. This book fills this gap by proposing and developing an entrepreneurial theory of the firm that focuses on the connections between entrepreneurship and management. Drawing on insights from Austrian economics, it describes entrepreneurship as judgmental decision made under uncertainty, showing how judgment is the driving force of the market economy and the key to understanding firm performance and organization.

Suggested Citation

  • Foss,Nicolai J. & Klein,Peter G., 2012. "Organizing Entrepreneurial Judgment," Cambridge Books, Cambridge University Press, number 9780521874427, March.
  • Handle: RePEc:cup:cbooks:9780521874427
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    Citations

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    Cited by:

    1. Nicolai J. Foss, 2012. "Linking Ethics and Economic Growth: a Comment on Hunt," Contemporary Economics, University of Finance and Management in Warsaw, vol. 6(3), September.
    2. Octavian-Dragomir Jora & Mihai-Vladimir Topan & Radu Cristian Musetescu & Matei-Alexandru Apavaloaei, 2015. "“Corporate Scene Investigation”: A Praxeological Attempt to Sketch the Profile of the Entrepreneur in Modern Business," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(38), pages 456-456, February.
    3. Saul Estrin & Tomasz Mickiewicz & Anna Rebmann, 2017. "Prospect theory and the effects of bankruptcy laws on entrepreneurial aspirations," Small Business Economics, Springer, vol. 48(4), pages 977-997, April.
    4. Anthony J. Evans & Vlad Tarko, 2014. "Contemporary Work in Austrian Economics," Journal of Private Enterprise, The Association of Private Enterprise Education, vol. 29(Fall 2014), pages 135-157.
    5. Cook, Michael L. & Savoie, Rebecca & Almog, Ronen, 2014. "Agribusiness as the Anchor: The Role of KijaniAgro," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 17(B).
    6. repec:eee:jbrese:v:76:y:2017:i:c:p:179-188 is not listed on IDEAS
    7. Klein, Peter G. & Mahoney, Joseph T. & McGahan, Anita M. & Pitelis, Christos N., 2012. "Who Is in Charge? A Property Rights Perspective on Stakeholder Governance," Working Papers 12-0102, University of Illinois at Urbana-Champaign, College of Business.
    8. Peter Klein & Per Bylund, 2014. "The place of Austrian economics in contemporary entrepreneurship research," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 27(3), pages 259-279, September.
    9. Kurt Dopfer & Jason Potts & Andreas Pyka, 2016. "Upward and downward complementarity: the meso core of evolutionary growth theory," Journal of Evolutionary Economics, Springer, vol. 26(4), pages 753-763, October.

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