MKT 723 Chapter Notes - Chapter 1-7: William Baumol, Daniel Kahneman, Rent-Seeking

• School: Ryerson University
• Department: Marketing
• Course: MKT 723
• Professor: Armand Gervais

Document Summary

Venkataraman, s. (cid:523) (cid:883)(cid:891)(cid:891)(cid:889)(cid:524) (cid:498) the distinctive domain of entrepreneurship research(cid:499) (cid:523)a(cid:524) What is the main problem wth relying on information we learn by asking people about themselves. What is the basic idea at the core of venkars two premises : people are diff and these differences matter two key phenomena that drive entrepreneurship: the presence of lucrative opportunity and the presence of enterprising individuals. Ent as schlor: seeks to understand how opportunities to bring into existence (cid:498)future(cid:499) goods and services are discovered, created and exploited, by whom, Two premises: 1 * weak premise* . No two individuals share the same knowledge. Kirzer nelson: two fundamental implications of entrepreneurship: opportunity for discovering and or creating goods and services in future exists because of dispersion of information . Second: same dispersion presents hurdles for exploiting opportunity because of the absence or failure of current markets for future goods.