The system-wide implications of entrepreneurship are usually linked to the effects of innovation ... more The system-wide implications of entrepreneurship are usually linked to the effects of innovation on economic growth or to the consequences of alternative institutional settings on various forms of entrepreneurial activity. Yet the motivations and consequences of system-wide entrepreneurship go well beyond those related to innovation and institutions. The goal of this chapter is to show that the market process is entrepreneurial in all its aspects, including its most quotidian operations and adjustments. Specifically, this chapter argues that adopting a Kirznerian alertness perspective allows us to appreciate how entrepreneurship is essential to, and at the center of, the whole dynamic market process, including not only innovation and institutions but also growth, allocation of resources, equilibration, and business cycles, all of which are, ultimately, products of entrepreneurial action.
The SNI Companies are nurse-owned, nurse-managed organizations founded on the concept that indivi... more The SNI Companies are nurse-owned, nurse-managed organizations founded on the concept that individual independence and autonomy promotes professional excellence and the ability to achieve personal and professional goals. Marty Minniti, BS, RN, CCRN, founder, president, and chief executive officer, discusses SNI Companies, and the rewards and challenges of entrepreneurial and intrapreneurial nursing.
ABSTRACT In 2006, Israel Kirzner received the International Award for Entrepreneurship and Small ... more ABSTRACT In 2006, Israel Kirzner received the International Award for Entrepreneurship and Small Business Research prize.1 The award cemented Kirzner’s status as a leading figure in the study of entrepreneurship. It also brought at the forefront of the literature, the important contributions that the Austrian view of markets has provided and continues to provide to the field. Indeed, the last 5 years have seen a significant amount of work in entrepreneurship as well as the emergence of a new generation of scholars whose works are rooted in the Austrian tradition. While some have continued developing Kirzner’s encompassing view of the entrepreneur and entrepreneurship (for example, see works by Koppl and Minniti), others have branched out in areas such as the theory of the firm (among others see works by Klein and Foss), institutions (see Boettke and Coyne), and economic growth (see Sautet and Leeson). The purpose of this chapter is to review the most important contributions to entrepreneurship emerging from the Austrian approach and position them properly within the context of Austrian social science.
IEEE Transactions on Engineering Management, May 1, 2012
Empirical observation suggests that several industrial clusters originate from employees who brea... more Empirical observation suggests that several industrial clusters originate from employees who break off and locate their new firms close to former employers. The reasons for such a choice are complex and include a variety of costs’ considerations. We present a two-player three-stage simultaneous game with interdependent decisions concerning break-offs, deterrent compensations, location, and profit-maximizing production outputs. The structure of the game explains under what conditions a break-off is desirable, what location's choice makes it optimal, and why the break-off process may lead to the birth of a cluster. We demonstrate how marginal production/congestion cost, degree of product differentiation, R&D investment in a region, and market size, all influence the likelihood of a firm's break-off and its subsequent location decision. Our results provide a rationale for why, in industries in which technology plays a significant role, an increase in R&D investment in the region may encourage the break-off firm to locate away from the incumbent. We also show that subsidies aimed at increasing manufacturing activities and diffusing commercializable innovations can be ineffective in promoting clustering and unnecessary in larger markets, and their exact size is crucial in determining their effectiveness.
The European Journal of Development Research, May 13, 2010
In this article we provide an introduction to the papers in the special section of this edition o... more In this article we provide an introduction to the papers in the special section of this edition of the European Journal of Development Research. We start by framing the challenges posed by female entrepreneurship to the research community, note some of the findings in the literature pertaining to the cross-national understanding of female entrepreneurship, and review the existing literature on the role and experience of female entrepreneurs in developing countries. Despite progress in understanding the motivations, constraints and issues that confront female entrepreneurs, there is still substantial scope for further research. We then discuss four papers that advance this research agenda. Dans ce papier nous introduisons les articles composant la rubrique de ce nume´ro du European Journal of Development Research. Cette rubrique est consacre´e aux mode`les et de´terminants de l'entreprenariat fe´minin dans les diffe´rents pays, et se penche plus particulie`rement sur le cas des pays en voie de de´veloppement. Dans un premier temps, nous pre´sentons les de´fis que repre´sente la question de l'entreprenariat fe´minin pour la communaute´scientifique, nous de´crivons quelques uns des re´sultats de la litte´rature concernant la conception trans-nationale de l'entreprenariat fe´minin, et passons en revue la litte´rature portant sur le roˆle et les expe´riences des femmes entrepreneurs dans les pays en voie de de´veloppement. Bien que l'on comprenne de mieux en mieux les motivations des femmes entrepreneurs, ainsi que les contraintes et proble`mes auxquels elles font face, ces questions me´ritent des recherches plus approfondies. Nous pre´sentons ensuite quatre articles qui font progresser cet agenda de recherche.
The Visiting scholars and PhD Research internship programmes are posted in Opportunities. All clo... more The Visiting scholars and PhD Research internship programmes are posted in Opportunities. All closing dates for applications are 30 September 2010. For more information on how to apply, see Opportunities. For more information on our current programme, see Research.
Learning about entrepreneurship has major implications for the way we understand economic change ... more Learning about entrepreneurship has major implications for the way we understand economic change and progress. At a time when governments all over the world look to entrepreneurship as a way to increase the wealth and well-being of their countries, The Dynamics of Entrepreneurship examines the causes of differences in entrepreneurial propensity between individuals, the factors that explain variations in the type and quantity of entrepreneurship at the aggregate level, and the macroeconomic implications of entrepreneurship. Using Global Entrepreneurship Monitor (GEM) data, the book brings together contributions from leading scholars to provide a comprehensive overview of current scholarship on entrepreneurial activity. Discussed topics include entrepreneurial motivation, gender and migration, entrepreneurial financing, urban entrepreneurship, growth-oriented entrepreneurship, economic growth, and regional entrepreneurship policies. The book concludes by summarizing its contribution to existing literature, with particular attention paid to the policy implications and the ongoing debate on entrepreneurship. Contributors to this volume - Maria Minniti (Southern Methodist University) Philipp Koellinger (Erasmus University) Christian Schade (Humboldt University) Elaine Allen (Babson College) Nan Langowitz (Babson College) Jonathan Levie (University of Strathclyde) Mark Hart (University of Aston). William Bygrave (Babson College) Niels Bosma (Utrecht University) Ramona Heck (CUNY - Baruch College) Edward Rogoff (CUNY - Baruch College) Zoltan Acs (George Mason University) Rolf Sternberg (Leibniz Universitat Hannover) Roy Thurik (Erasmus University) Chantal Hartog (EIM Business and Policy Research) Erik Stam (Cambridge University) Andre van Stel (University of Amsterdam) Ernesto Amoros (Universidad del Desarrollo) Oscar Cristi (Universidad del Desarrollo) Saul Estrin (London School of Economics) Tomasz Mickiewicz (University College of London) Kent Jones (Babson College) Megan Way (Babson College) David Audretsch (Indiana University)
... categories: factors affecting perceived desirability of entrepreneurial career choice and tho... more ... categories: factors affecting perceived desirability of entrepreneurial career choice and those influencing perceived ability to have a successful kick-off (Table 3). Page 19. 19 Table 3 Factors Influencing Perceptions About the Entrepreneurial Environment (% of respondents) ...
Throughout the market process, economic incentives exist for individuals to exploit opportunities... more Throughout the market process, economic incentives exist for individuals to exploit opportunities and earn profits. Individuals respond to such incentives, but their ability to recognize opportunities and redistribute resources in new and creative ways varies. Only those individuals with superior alertness toward possible changes and who are able to cope with disequilibrium move to reallocate resources and become entrepreneurs. Thus, the role of the entrepreneur is to discover and seize market opportunities by reorganizing economic resources in new and innovative ways. Yet, it remains to be explained how entrepreneurs choose whether or not to act upon a perceived profit opportunity. The goal of this paper is to provide a model describing the decision process followed by potential entrepreneurs who are faced with such opportunities. In other words, we build a model describing the decisional algorithm that causes some individuals to act upon the profit opportunities they perceive and others to discard them. Our claim is that individuals act rationally, process all available information, and decide to exploit or not to exploit a potential opportunity by comparing the subjective returns to becoming an entrepreneur with the subjective returns of performing any alternative income-producing activity. Individuals become entrepreneurs if, and only if, their subjective relative return to entrepreneurship is positive. In addition, we argue, subjective relative returns to entrepreneurship are influenced by the existing rate of entrepreneurial activity in the individual's vicinity.
Frontiers of Entrepreneurship Research 2006 : proceedings of the Twenty-sixth Annual Entrepreneur... more Frontiers of Entrepreneurship Research 2006 : proceedings of the Twenty-sixth Annual Entrepreneurship Research Conference
Autonomous mobile manipulation offers a dual advantage of mobility provided by a mobile platform ... more Autonomous mobile manipulation offers a dual advantage of mobility provided by a mobile platform and dexterity afforded by the manipulator. In this paper, we present a wholebody optimal control framework to jointly solve the problems of manipulation, balancing and interaction as one optimization problem for an inherently unstable robot. The optimization is performed using a Model Predictive Control (MPC) approach; the optimal control problem is transcribed at the end-effector space, treating the position and orientation tasks in the MPC planner, and skillfully planning for end-effector contact forces. The proposed formulation evaluates how the control decisions aimed at end-effector tracking and environment interaction will affect the balance of the system in the future. We showcase the advantages of the proposed MPC approach on the example of a ball-balancing robot with a robotic manipulator and validate our controller in hardware experiments for tasks such as end-effector pose tracking and door opening.
Inflection points, kinks, and jumps identify places where the relationship between dependent and ... more Inflection points, kinks, and jumps identify places where the relationship between dependent and independent variables switches in some important way. Although these switch points are often mentioned in management research, their presence in the data is either ignored, or postulated ad hoc by testing arbitrarily specified functional forms (e.g., U or inverted U-shaped relationships). This is problematic if we want accurate tests for our theories. To address this issue, we provide an integrative framework for the identification of nonlinearities. Our approach constitutes a precursor step that researchers will want to conduct before deciding which estimation model may be most appropriate. We also provide instructions on how our approach can be implemented, and a replicable illustration of the procedure. Our illustrative example shows how the identification of endogenous switch points may lead to significantly different conclusions compared to those obtained when switch points are igno...
The system-wide implications of entrepreneurship are usually linked to the effects of innovation ... more The system-wide implications of entrepreneurship are usually linked to the effects of innovation on economic growth or to the consequences of alternative institutional settings on various forms of entrepreneurial activity. Yet the motivations and consequences of system-wide entrepreneurship go well beyond those related to innovation and institutions. The goal of this chapter is to show that the market process is entrepreneurial in all its aspects, including its most quotidian operations and adjustments. Specifically, this chapter argues that adopting a Kirznerian alertness perspective allows us to appreciate how entrepreneurship is essential to, and at the center of, the whole dynamic market process, including not only innovation and institutions but also growth, allocation of resources, equilibration, and business cycles, all of which are, ultimately, products of entrepreneurial action.
The SNI Companies are nurse-owned, nurse-managed organizations founded on the concept that indivi... more The SNI Companies are nurse-owned, nurse-managed organizations founded on the concept that individual independence and autonomy promotes professional excellence and the ability to achieve personal and professional goals. Marty Minniti, BS, RN, CCRN, founder, president, and chief executive officer, discusses SNI Companies, and the rewards and challenges of entrepreneurial and intrapreneurial nursing.
ABSTRACT In 2006, Israel Kirzner received the International Award for Entrepreneurship and Small ... more ABSTRACT In 2006, Israel Kirzner received the International Award for Entrepreneurship and Small Business Research prize.1 The award cemented Kirzner’s status as a leading figure in the study of entrepreneurship. It also brought at the forefront of the literature, the important contributions that the Austrian view of markets has provided and continues to provide to the field. Indeed, the last 5 years have seen a significant amount of work in entrepreneurship as well as the emergence of a new generation of scholars whose works are rooted in the Austrian tradition. While some have continued developing Kirzner’s encompassing view of the entrepreneur and entrepreneurship (for example, see works by Koppl and Minniti), others have branched out in areas such as the theory of the firm (among others see works by Klein and Foss), institutions (see Boettke and Coyne), and economic growth (see Sautet and Leeson). The purpose of this chapter is to review the most important contributions to entrepreneurship emerging from the Austrian approach and position them properly within the context of Austrian social science.
IEEE Transactions on Engineering Management, May 1, 2012
Empirical observation suggests that several industrial clusters originate from employees who brea... more Empirical observation suggests that several industrial clusters originate from employees who break off and locate their new firms close to former employers. The reasons for such a choice are complex and include a variety of costs’ considerations. We present a two-player three-stage simultaneous game with interdependent decisions concerning break-offs, deterrent compensations, location, and profit-maximizing production outputs. The structure of the game explains under what conditions a break-off is desirable, what location's choice makes it optimal, and why the break-off process may lead to the birth of a cluster. We demonstrate how marginal production/congestion cost, degree of product differentiation, R&D investment in a region, and market size, all influence the likelihood of a firm's break-off and its subsequent location decision. Our results provide a rationale for why, in industries in which technology plays a significant role, an increase in R&D investment in the region may encourage the break-off firm to locate away from the incumbent. We also show that subsidies aimed at increasing manufacturing activities and diffusing commercializable innovations can be ineffective in promoting clustering and unnecessary in larger markets, and their exact size is crucial in determining their effectiveness.
The European Journal of Development Research, May 13, 2010
In this article we provide an introduction to the papers in the special section of this edition o... more In this article we provide an introduction to the papers in the special section of this edition of the European Journal of Development Research. We start by framing the challenges posed by female entrepreneurship to the research community, note some of the findings in the literature pertaining to the cross-national understanding of female entrepreneurship, and review the existing literature on the role and experience of female entrepreneurs in developing countries. Despite progress in understanding the motivations, constraints and issues that confront female entrepreneurs, there is still substantial scope for further research. We then discuss four papers that advance this research agenda. Dans ce papier nous introduisons les articles composant la rubrique de ce nume´ro du European Journal of Development Research. Cette rubrique est consacre´e aux mode`les et de´terminants de l'entreprenariat fe´minin dans les diffe´rents pays, et se penche plus particulie`rement sur le cas des pays en voie de de´veloppement. Dans un premier temps, nous pre´sentons les de´fis que repre´sente la question de l'entreprenariat fe´minin pour la communaute´scientifique, nous de´crivons quelques uns des re´sultats de la litte´rature concernant la conception trans-nationale de l'entreprenariat fe´minin, et passons en revue la litte´rature portant sur le roˆle et les expe´riences des femmes entrepreneurs dans les pays en voie de de´veloppement. Bien que l'on comprenne de mieux en mieux les motivations des femmes entrepreneurs, ainsi que les contraintes et proble`mes auxquels elles font face, ces questions me´ritent des recherches plus approfondies. Nous pre´sentons ensuite quatre articles qui font progresser cet agenda de recherche.
The Visiting scholars and PhD Research internship programmes are posted in Opportunities. All clo... more The Visiting scholars and PhD Research internship programmes are posted in Opportunities. All closing dates for applications are 30 September 2010. For more information on how to apply, see Opportunities. For more information on our current programme, see Research.
Learning about entrepreneurship has major implications for the way we understand economic change ... more Learning about entrepreneurship has major implications for the way we understand economic change and progress. At a time when governments all over the world look to entrepreneurship as a way to increase the wealth and well-being of their countries, The Dynamics of Entrepreneurship examines the causes of differences in entrepreneurial propensity between individuals, the factors that explain variations in the type and quantity of entrepreneurship at the aggregate level, and the macroeconomic implications of entrepreneurship. Using Global Entrepreneurship Monitor (GEM) data, the book brings together contributions from leading scholars to provide a comprehensive overview of current scholarship on entrepreneurial activity. Discussed topics include entrepreneurial motivation, gender and migration, entrepreneurial financing, urban entrepreneurship, growth-oriented entrepreneurship, economic growth, and regional entrepreneurship policies. The book concludes by summarizing its contribution to existing literature, with particular attention paid to the policy implications and the ongoing debate on entrepreneurship. Contributors to this volume - Maria Minniti (Southern Methodist University) Philipp Koellinger (Erasmus University) Christian Schade (Humboldt University) Elaine Allen (Babson College) Nan Langowitz (Babson College) Jonathan Levie (University of Strathclyde) Mark Hart (University of Aston). William Bygrave (Babson College) Niels Bosma (Utrecht University) Ramona Heck (CUNY - Baruch College) Edward Rogoff (CUNY - Baruch College) Zoltan Acs (George Mason University) Rolf Sternberg (Leibniz Universitat Hannover) Roy Thurik (Erasmus University) Chantal Hartog (EIM Business and Policy Research) Erik Stam (Cambridge University) Andre van Stel (University of Amsterdam) Ernesto Amoros (Universidad del Desarrollo) Oscar Cristi (Universidad del Desarrollo) Saul Estrin (London School of Economics) Tomasz Mickiewicz (University College of London) Kent Jones (Babson College) Megan Way (Babson College) David Audretsch (Indiana University)
... categories: factors affecting perceived desirability of entrepreneurial career choice and tho... more ... categories: factors affecting perceived desirability of entrepreneurial career choice and those influencing perceived ability to have a successful kick-off (Table 3). Page 19. 19 Table 3 Factors Influencing Perceptions About the Entrepreneurial Environment (% of respondents) ...
Throughout the market process, economic incentives exist for individuals to exploit opportunities... more Throughout the market process, economic incentives exist for individuals to exploit opportunities and earn profits. Individuals respond to such incentives, but their ability to recognize opportunities and redistribute resources in new and creative ways varies. Only those individuals with superior alertness toward possible changes and who are able to cope with disequilibrium move to reallocate resources and become entrepreneurs. Thus, the role of the entrepreneur is to discover and seize market opportunities by reorganizing economic resources in new and innovative ways. Yet, it remains to be explained how entrepreneurs choose whether or not to act upon a perceived profit opportunity. The goal of this paper is to provide a model describing the decision process followed by potential entrepreneurs who are faced with such opportunities. In other words, we build a model describing the decisional algorithm that causes some individuals to act upon the profit opportunities they perceive and others to discard them. Our claim is that individuals act rationally, process all available information, and decide to exploit or not to exploit a potential opportunity by comparing the subjective returns to becoming an entrepreneur with the subjective returns of performing any alternative income-producing activity. Individuals become entrepreneurs if, and only if, their subjective relative return to entrepreneurship is positive. In addition, we argue, subjective relative returns to entrepreneurship are influenced by the existing rate of entrepreneurial activity in the individual's vicinity.
Frontiers of Entrepreneurship Research 2006 : proceedings of the Twenty-sixth Annual Entrepreneur... more Frontiers of Entrepreneurship Research 2006 : proceedings of the Twenty-sixth Annual Entrepreneurship Research Conference
Autonomous mobile manipulation offers a dual advantage of mobility provided by a mobile platform ... more Autonomous mobile manipulation offers a dual advantage of mobility provided by a mobile platform and dexterity afforded by the manipulator. In this paper, we present a wholebody optimal control framework to jointly solve the problems of manipulation, balancing and interaction as one optimization problem for an inherently unstable robot. The optimization is performed using a Model Predictive Control (MPC) approach; the optimal control problem is transcribed at the end-effector space, treating the position and orientation tasks in the MPC planner, and skillfully planning for end-effector contact forces. The proposed formulation evaluates how the control decisions aimed at end-effector tracking and environment interaction will affect the balance of the system in the future. We showcase the advantages of the proposed MPC approach on the example of a ball-balancing robot with a robotic manipulator and validate our controller in hardware experiments for tasks such as end-effector pose tracking and door opening.
Inflection points, kinks, and jumps identify places where the relationship between dependent and ... more Inflection points, kinks, and jumps identify places where the relationship between dependent and independent variables switches in some important way. Although these switch points are often mentioned in management research, their presence in the data is either ignored, or postulated ad hoc by testing arbitrarily specified functional forms (e.g., U or inverted U-shaped relationships). This is problematic if we want accurate tests for our theories. To address this issue, we provide an integrative framework for the identification of nonlinearities. Our approach constitutes a precursor step that researchers will want to conduct before deciding which estimation model may be most appropriate. We also provide instructions on how our approach can be implemented, and a replicable illustration of the procedure. Our illustrative example shows how the identification of endogenous switch points may lead to significantly different conclusions compared to those obtained when switch points are igno...
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Papers by Maria Minniti