Stieglitz, Nils; Foss, Nicolai J. - In: Economic institutions of strategy, (pp. 67-96). 2009
Entrepreneurs in a competitive economy face three fundamental problems. They need to search for and discover a business opportunity ( Kirzner, 1973 ), evaluate it ( Knight, 1921 ), and then seize the opportunity to reap entrepreneurial profits ( Schumpeter, 1911 ) ( Langlois, 2007 ). The problem...
