THE ENTREPRENEUR AS A CONSTRUCTOR OF CONNECTIONS

Peter E. Earl

72 citations0/0 files storedAdvances in Austrian economics

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Entrepreneurship Studies and Influences Economic Theory and Institutions Innovation and Knowledge Management

Abstract

This paper attempts to recast the entrepreneur by synthesizing ideas from personal construct psychology and systems-based evolutionary economics. It retains an Austrian subjectivist emphasis but focuses on rapid product innovation rather than arbitrage. Profit opportunities are mental constructs that link products and revenue streams. Entrepreneurs develop new products by forming novel connections between existing product elements and diverse technologies, mindful of the connections between these products and the complex structures of consumer lifestyles. These linkages are often formed in the context of large multi-product firms, as well as being the basis of new enterprises, so entrepreneurship overlaps with strategic management.

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References

1997Capitalism, Socialism and Democracy 2010THE PSYCHOLOGY OF PERSONAL CONSTRUCTS 1974Competition and Entrepreneurship 1997Models of Bounded Rationality 1967THE ACT OF CREATION 1972The Organisation of Industry 1968"The ghost in the machine".1999The Lexus and the Olive Tree

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