 Measuring Historical EntrepreneurshipChapter 4 in Entrepreneurship in Theory and History, 2005, pp 77-108 from Palgrave Macmillan Abstract: Abstract Measuring entrepreneurship, assigning numbers to the concept, requires identification of who is or is not an entrepreneur, and therefore what entrepreneurs do.1 One approach represents entrepreneurs as identifying and exploiting profit opportunities resulting from market disequilibria, so eliminating this profit and balancing the market (Kirzner, 1973). Another links entrepreneurship with innovation (Schumpeter, 1961). Entrepreneurship might then perhaps be measured by profit stemming from innovation. Profit corresponds with the ‘adding value’ indicator of entrepreneurial performance (Kay, 1993, ch. 2). But actual profits may be as much a symptom of lack of competition (as in the ‘persistence of profits’ literature: for example, Geroski and Jacquemin, 1988) as of successful innovation. Ideally the profits should be rewards for successfully bearing uncertainty, rather than for the exercise of monopoly power (cf. Knight, 1921). Keywords: Data Envelopment Analysis; Total Factor Productivity; Efficiency Score; Power Distance; Ordinary Little Square Regression (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-52263-3_4 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Palgrave Macmillan Books from Palgrave Macmillan |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.