TY - CHAP
T1 - Entrepreneurship, knowledge, space, and place
T2 - Evolutionary economic geography meets Austrian economics
AU - Stam, Erik
AU - Lambooy, Jan
PY - 2011
Y1 - 2011
N2 - In a society with dispersed knowledge, entrepreneurs have to identify opportunities, recognize them as relevant, and match them with (demand) preferences, technological feasibilities, and their own skills. According to Austrian theory, this is done on a subjective basis: different people not only have different preferences but also different perceptions, interpretations, and understandings of values and feasibilities, which they adapt in mutual interaction and communication in specific contexts over their unique life courses (Nooteboom, 2000). Different minds think different things (Lachmann, 1978), and the entrepreneurial opportunities people perceive very much depend on their prior knowledge (Shane, 2000).
AB - In a society with dispersed knowledge, entrepreneurs have to identify opportunities, recognize them as relevant, and match them with (demand) preferences, technological feasibilities, and their own skills. According to Austrian theory, this is done on a subjective basis: different people not only have different preferences but also different perceptions, interpretations, and understandings of values and feasibilities, which they adapt in mutual interaction and communication in specific contexts over their unique life courses (Nooteboom, 2000). Different minds think different things (Lachmann, 1978), and the entrepreneurial opportunities people perceive very much depend on their prior knowledge (Shane, 2000).
UR - http://www.scopus.com/inward/record.url?scp=84896906246&partnerID=8YFLogxK
U2 - 10.1108/S1529-2134(2012)0000016007
DO - 10.1108/S1529-2134(2012)0000016007
M3 - Chapter
AN - SCOPUS:84896906246
SN - 9781781900062
T3 - Advances in Austrian Economics
SP - 81
EP - 103
BT - The Spatial Market Process
PB - Emerald Group Publishing Ltd.
ER -