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Organizing the supply of market making services
Growth and dynamics of the firm
The market for entrepreneurs
Social mobility and the entrepreneur
Alternative theories of the entrepreneur
The market for information
Speculative intermediation and the role of inventory management
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ability achieved adjustment advertising allocation alternative analysis arbitrage asset assumed barriers to entry become buyer capital Chapter competition constraints consumption contract coordination customers default delegate difficult diffusion curve durable Edgeworth box efficient employee entrant entrepre entrepreneurship equilibrium example exploit external markets factors firm fixed cost function identified important incentive increase incurred indifference curve individual innovation inputs intermediation internal inventory involves Jack Brash judgmental decisions labour services lender marginal marginal cost market for entrepreneurs market maker market-making activities market-making costs market-making services monopoly multi-purpose negotiation neoclassical theory neur normally offer offer curve opportunity cost organization output party perfect competition plans possible potential preneur price discrimination problem profit reduce relevant retailer reward risk role screening self-employed sell seller social specialist speculation strategy success superior judgment supply technique tion transaction costs transactors volume of trade Walrasian auctioneer X-efficiency
Side 20 - The entire structure of the theory developed below rests upon the following definition: an entrepreneur is someone who specializes in taking judgmental decisions about the coordination of scarce resources.
Side 222 - ... perhaps more important, as there is in the society a scarcity of self-confidence combined with the power to make effective guarantees to employees. The abundance or scarcity of mere ability to manage business successfully exerts relatively little influence on profit; the main thing is the rashness or timidity of entrepreneurs (actual and potential) as a class in bidding up the prices of productive services. Entrepreneur income, being residual, is determined by the demand for these other services,...