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Entrepreneurship, Knowledge, Space, and Place: Evolutionary Economic Geography meets Austrian Economics

  • E. Stam
  • J.G. Lambooy

In this paper we investigate the spatial aspects of the conditions of entrepreneurship on the one hand, and the consequences of entrepreneurship on the other hand. The consequences are the effects of individual interactions that may lead to the emergence of complex systems that are largely the “result of human action, but not of human design†(Hayek, 1967). These emergent systems have spatial coordinates and localized effects on the growth of knowledge and economic activity. The emergent systems—new organizations, institutions, industrial clusters, cities, and regions—in turn form the context for subsequent entrepreneurial actions. We show the strengths and opportunities of Austrian economics for the indeterminate dynamic analysis of entrepreneurship and evolving selection environments, and the spatial aspects of these processes and structures. We explicitly investigate the bridge between evolutionary economic geography and Austrian economics. The paper is structured as follows: in the second section, we introduce Austrian as well as evolutionary geographic treatments of entrepreneurship. In the third section we investigate entrepreneurship and its conditions of space and place. In the fourth section, we elaborate on the urban aspects of the conditions of entrepreneurship as it is approached in evolutionary theories. The fifth section centers on the spatial aspects of the consequences of entrepreneurship, with a particular focus on its impact on urban and regional development.

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Paper provided by Utrecht School of Economics in its series Working Papers with number 12-11.

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Date of creation: 2012
Date of revision:
Handle: RePEc:use:tkiwps:1211
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  8. Thomas Brenner & Dirk Fornahl, 2008. "Regional Path-Dependence in Start-up Activity," Papers in Evolutionary Economic Geography (PEEG) 0812, Utrecht University, Section of Economic Geography, revised Jun 2008.
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  10. Ron A. Boschma & Jan G. Lambooy, 1999. "Evolutionary economics and economic geography," Journal of Evolutionary Economics, Springer, vol. 9(4), pages 411-429.
  11. Casper, Steven, 2007. "Creating Silicon Valley in Europe: Public Policy Towards New Technology Industries," OUP Catalogue, Oxford University Press, number 9780199269525.
  12. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
  13. Acemoglu, Daron, 1995. "Reward structures and the allocation of talent," European Economic Review, Elsevier, vol. 39(1), pages 17-33, January.
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  18. Bettencourt, Luis M.A. & Lobo, Jose & Strumsky, Deborah, 2007. "Invention in the city: Increasing returns to patenting as a scaling function of metropolitan size," Research Policy, Elsevier, vol. 36(1), pages 107-120, February.
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  21. Audretsch, David B & Stephan, Paula E, 1996. "Company-Scientist Locational Links: The Case of Biotechnology," American Economic Review, American Economic Association, vol. 86(3), pages 641-52, June.
  22. André van Stel & Niels Bosma & Kashifa Suddle, 2006. "The Geography of New Firm Formation: Evidence from Independent Start-ups and New Subsidiaries in the Netherlands," Scales Research Reports H200615, EIM Business and Policy Research.
  23. Baum, Joel A. C. & Silverman, Brian S., 2004. "Picking winners or building them? Alliance, intellectual, and human capital as selection criteria in venture financing and performance of biotechnology startups," Journal of Business Venturing, Elsevier, vol. 19(3), pages 411-436, May.
  24. Maryann P. Feldman & Johanna L. Francis, 2003. "Fortune Favours the Prepared Region: The Case of Entrepreneurship and the Capitol Region Biotechnology Cluster," European Planning Studies, Taylor & Francis Journals, vol. 11(7), pages 765-788, October.
  25. Ramesh Chandra & Roger J. Sandilands, 2005. "Does modern endogenous growth theory adequately represent Allyn Young?," Cambridge Journal of Economics, Oxford University Press, vol. 29(3), pages 463-473, May.
  26. Audretsch, David B. & Lehmann, Erik E., 2005. "Does the Knowledge Spillover Theory of Entrepreneurship hold for regions?," Research Policy, Elsevier, vol. 34(8), pages 1191-1202, October.
  27. Cohen, Wesley M & Malerba, Franco, 2001. "Is the Tendency to Variation a Chief Cause of Progress?," Industrial and Corporate Change, Oxford University Press, vol. 10(3), pages 587-608, September.
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