Opportunities and new business models

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Opportunities and new business models

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dc.contributor.author Stieglitz, Nils
dc.contributor.author Foss, Nicolai J.
dc.date.accessioned 2009-04-08
dc.date.accessioned 2009-04-08T12:34:28Z
dc.date.available 2009-04-08T12:34:28Z
dc.date.issued 2009-04-08T12:34:28Z
dc.identifier.isbn 9788791815454
dc.identifier.uri http://hdl.handle.net/10398/7784
dc.description.abstract Entrepreneurs in a competitive economy face three fundamental problems. They need to search for and discover a business opportunity (Kirzner, 1973), evaluate it (Knight, 1921), and then seize the opportunity to reap entrepreneurial profits (Schumpeter, 1911) (Langlois, 2007). The problem that we address is how the ability to exploit business opportunities is influenced by entrepreneurial search and the economic organization of entrepreneurship (Arrow, 1962; Lippman & Rumelt, 2003; Aghion et al., 2005; Foss et al., 2007). In many cases, the discovery for a new business opportunity needs to be motivated by expected gains, since the search and evaluation of business opportunities is a costly, resource-consuming process (Denrell, Fang & Winter, 2003; Nickerson & Zenger, 2004; Foss & Klein, 2005; Teece, 2007; Foss & Foss, 2008).1 We show the critical role of expectations for understanding of the economic organization of entrepreneurship, and argue that transaction cost economics, with its insistence on bounded rationality, but far-sighted contracting offers useful insights and presents rich opportunities for further theoretical and empirical research (cf. also Furubotn, 2002). en
dc.format.extent 40 s. en
dc.language eng en
dc.relation.ispartofseries Working Paper;2009-04
dc.title Opportunities and new business models en
dc.type wp en
dc.accessionstatus modt09apr08 nijemo en
dc.contributor.corporation Copenhagen Business School. CBS
dc.contributor.department Center for Strategi og Globalisering en
dc.contributor.departmentshort SMG en
dc.contributor.departmentuk Center for Strategic Management and Globalization en
dc.contributor.departmentukshort SMG en
dc.idnumber 9788791815454 en
dc.publisher.year 2009 en
dc.title.subtitle Transaction cost and property rights perspectives on entrepreneurship en


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