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|Document Type: ||Thesis or dissertation|
|Title: ||Economic theories of the entrepreneur: A systematic review of the literature|
|Authors: ||Brown, Christopher Russell|
|Supervisors: ||Kakabadse, Andrew P.|
|Issue Date: ||Sep-2007|
|Abstract: ||Economic theories of the entrepreneur have received more attention recently in the
entrepreneurship literature. Different concepts and ideas are typically borrowed from various
economists to create new, or expand upon existing, theories. This has created a somewhat
fragmented literature, and I found no evidence of a previous systematic (or comprehensive
literature) review of any economic theories of the entrepreneur.
The many different economic theories of the entrepreneur over time and a renewed interest
in researching entrepreneurship within an economics framework led to my research
questions: What are the different economic theories of the entrepreneur? What are the main
themes and sub themes of these economic theories?
The aims of my systematic review were: (1) to provide a literature scoping section that gives
an overview of the economics and entrepreneurship fields which lead to my research
question; (2) to develop a systematic review protocol which outlines the various stages of
the review process which will answer the review question; and (3) to carry out the review by
locating and synthesizing the relevant literature.
The process proved beneficial as evidenced by the comprehensiveness of the findings. The
most influential school of economics on the field of entrepreneurship is arguably the
Austrian school, with Israel Kirzner as the main developer of an economic theory of the
entrepreneur. Most of the current themes in the entrepreneurship literature come from his
theory and future research in entrepreneurship appears to be moving forward with ideas
from the Austrian school.
I have synthesized the results from the systematic search and identified 7 major recurring
themes in the literature: entrepreneurial opportunity identification and exploitation;
discovery; knowledge; uncertainty and risk; the market as a process; disequilibrium; and
alertness. Taken together, these themes provide a clearer picture of the economic function of
|Appears in Collections:||PhD, DBA, and MSc by Research theses (School of Management)|
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