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Entrepreneurship and the economic theory of markets

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Casson, M. (2025) Entrepreneurship and the economic theory of markets. Foundations and Trends in Entrepreneurship. ISSN 1551-3122 (In Press)

Abstract/Summary

Entrepreneurship studies has an uneasy relationship with mainstream economics. This paper attempts to bridge the gap by presenting a formal mathematical theory of entrepreneurship, focusing in competing entrepreneurs operating in a segmented market. The entrepreneur is modelled as an innovative market-maker, discovering opportunities for trade, Each market segment is characterised by a maximum price that customers are willing to pay, and a quantity that they are willing to buy at that maximum price. The model can solve for the outcome of complicated market structures using a simple technique, namely linear progaramming.

Item Type Article
URI https://reading-clone.eprints-hosting.org/id/eprint/120453
Refereed Yes
Divisions Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
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