Decision-making by physicians on patients’ treatment has come under increased public scrutiny. In fact, there is a fair amount of debate on the effects of marketing actions of pharmaceutical firms toward physicians and their impact on physician prescription behavior. While some scholars...

For almost fifty years now, following the trail of issues raised by economists such as Hayek, Schumpeter, Kirzner and Arrow, researchers have studied the economics of technological change and the problem of allocation of resources for invention (invention being the production of information)....

In this paper the authors identify the paradox that strategic choice requires an understanding of the future and that strategic choice also determines the future. They go on to suggest that a radically subjectivist approach may provide the basis of a theory of creative choice. This theory would...

The normative foundations of the investor centered model of corporate governance, represented in mainstream economics by the nexus-of-contracts view of the firm, have come under attack, mainly by proponents of normative stakeholder theory. We argue that the nexus-of-contracts view is static and...

We explore the transition from paid work to self-employment using three explanatory variables: paid income, predicted income, and income for ability. We find no linear relationship between the three variables and the self-employment transition. We then test for curvilinear relationships. We find...

How does a large corporation rethink and transform itself in an increasingly competitive environment? This corporate-strategy case could be described as how PepsiCo stopped worrying about competing with Coke and figured out what its real business was and how to build its future. A new CEO wants...

In his book "Invention," Professor Norbert Wiener (1993), commenting on the relative importance accorded to individuals and institutions in historical narratives of science and inventions, asks us to imagine Shakespeare's "Romeo and Juliet" without either Romeo or the balcony. The story is just...

Why and when do some people become entrepreneurs? We attempt to answer the question by considering both the variability in the quality of opportunities and aspiration levels that can vary over individuals and over time. When individuals have higher aspiration levels than their readily available...

In this lecture, I wish to explore the possibility of a useful dialogue between the fields of entrepreneurship and business ethics for mutual benefit. Although these two fields have much to offer each other, they have developed largely independent of each other. I wish to argue that...

In this paper, we propose that we will not be able to develop compelling explanations of entrepreneurial activity until we make a fundamental adjustment to our underlying assumptions of human action, replacing our reliance upon a rational actor model of human behavior with a model that...