The Entrepreneurial Process in Terms of Rules
Chapter Chapter 4 in The Entrepreneur in Rule-Based Economics, 2017, pp 27-39 from Springer
Abstract This chapter discusses the rule of entrepreneurship as an object of study in empirical research. It illustrates how agents eventually become carriers of that rule and under what circumstances they use it in the operation of starting a business. First, a definition of the “entrepreneurial process” in terms of rules is developed. In a nutshell, Entrepreneurial Spirit qualifies as a 2nd order rule that moderates the odds of becoming a latent entrepreneur or, in rule terms, of adopting the 1st order rule of Individual Entrepreneurship. Next, we show how this understanding enables an integrated account of latent and actual, necessity- and opportunity-driven entrepreneurship and of entrepreneurial attitudes. Reviewing a number of important earlier theoretical approaches we synthesise these into a series of propositions. Importantly, specific empirical information is required for developing these propositions further into a locally valid theorem.
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