Perception, Opportunity and Profit

E303278

Perception, Opportunity and Profit is a seminal work in Austrian economics by Israel Kirzner that analyzes the role of entrepreneurial discovery in market processes and profit generation.

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Predicate Object
instanceOf book
work in Austrian economics
academicDiscipline economics
academicSubDiscipline Austrian School of economics
surface form: Austrian School

entrepreneurship studies
arguesThat entrepreneurial discovery drives market coordination
market processes are dynamic and open-ended
profit arises from entrepreneurial alertness to previously unnoticed opportunities
author Israel Kirzner
contributionTo market process theory
theory of entrepreneurship
theory of profit
critiques equilibrium-focused views of markets
purely mechanistic models of competition
describedAs major contribution to entrepreneurial theory
seminal work in Austrian economics
emphasizes alertness as a key entrepreneurial trait
knowledge and information in markets
subjective perception of opportunities
focusesOn coordination function of entrepreneurship
process of discovery of profit opportunities
role of the entrepreneur in markets
hasKeyConcept discovery process
entrepreneurial alertness
market coordination
profit as a signal of discovery
influenced modern entrepreneurship theory in Austrian economics
research on market process and discovery
influencedBy Austrian subjectivist tradition
Friedrich Hayek
Ludwig von Mises
language English
mainSubject Austrian School of economics
surface form: Austrian economics

entrepreneurial discovery
entrepreneurship
market process
profit
placesEntrepreneurAs central figure in market adjustment
theoreticalFramework Austrian School of economics
viewsMarketAs process of continual discovery and adjustment
viewsProfitAs result of correcting market errors

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Referenced by (3)

Full triples — surface form annotated when it differs from this entity's canonical label.

Israel Kirzner notableWork Perception, Opportunity and Profit
Kirzner notableWork Perception, Opportunity and Profit
subject surface form: Israel Kirzner
Discovery and the Capitalist Process relatedWork Perception, Opportunity and Profit
this entity surface form: Perception, Opportunity, and Profit