Competition and Entrepreneurship

ISBN-10: 0226437760
ISBN-13: 9780226437767
Edition: 1973
List price: $31.00 Buy it from $13.79
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Description: Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and  More...

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Book details

List price: $31.00
Copyright year: 1973
Publisher: University of Chicago Press
Publication date: 9/15/1978
Binding: Paperback
Pages: 256
Size: 5.50" wide x 8.00" long x 0.50" tall
Weight: 0.902
Language: English

Stressing verbal logic rather than mathematics, Israel M. Kirzner provides at once a thorough critique of contemporary price theory, an essay on the theory of entrepreneurship, and an essay on the theory of competition. Competition and Entrepreneurship offers a new appraisal of quality competition, of selling effort, and of the fundamental weaknesses of contemporary welfare economics. Kirzner's book establishes a theory of the market and the price system which differs from orthodox price theory. He sees orthodox price theory as explaining the configuration of prices and quantities that satisfied the conditions for equilibrium. Mr. Kirzner argues that "it is more useful to look to price theory to help understand how the decisions of individual participants in the market interact to generate the market forces which compel changes in prices, outputs, and methods of production and in the allocation of resources." Although Competition and Entrepreneurship is primarily concerned with the operation of the market economy, Kirzner's insights can be applied to crucial aspects of centrally planned economic systems as well. In the analysis of these processes, Kirzner clearly shows that the rediscovery of the entrepreneur must emerge as a step of major importance.

Preface
Market Process Versus Market Equilibrium
The Market System and the Theory of the Market
The Task of Price Theory Two Views Competition and Entrepreneurship
The Market Process Competition in the Market Process Entrepreneurship in the Market Process
The Producer and the Market Process Monopoly and the Market Process
The Entrepreneur as Monopolist
The Producer and His Choice of Product Equilibrium Economics, Entrepreneurship, and Competition
The Entrepreneur
The Nature of Entrepreneurship Decision-making and Economizing
The Entrepreneur in the Market
The Producer as Entrepreneur Entrepreneurial Profits Entrepreneurship, Ownership, and the Firm Ownership, Entrepreneurship, and the Corporate Firm
A Hypothetical Example
The Corporate Firm Once Again
Entrepreneurship and Knowledge Entrepreneurship and the Equilibrating
Process Entrepreneurship in the Literature Misesian Entrepreneurship
Competition and Monopoly Competition: A Situation or a Process?
Entrepreneurship and Competition
The Meaning of Monopoly
The Two Notions of Monopoly Compared
The Theory of Monopolistic Competition
Some Remarks on the Notion of the Industry Schumpeter, Creative Destruction of the Competitive Process
Entrepreneurship as a Route to a Monopoly Position
Selling Costs, Quality, and Competition
On the Product as an Economic Variable
Production Costs and Selling Costs Selling Costs, Consumer Knowledge, and Entrepreneurial
Alertness Advertising, Consumer Knowledge, and the Economics of Information Advertising, Information, and Persuasion Advertising, Selling Effort, and Competition Waste, Consumer Sovereignty, and Advertising Buying
Effort, Factor Quality, and Entrepreneurial Symmetry
The Long and the Short Run in the Literature On Sunk Costs and the Short Run Costs, Profits, and Decisions
Entrepreneurial Decisions, the Long Run and the Short Some Additional Cases Further Observations on Long-run Competition and Short-run Monopoly
Competition, Welfare, and Coordination
The Fundamental Flow in Welfare Economics Knowledge, Coordination, and Entrepreneurship
The Coordinating Process The Role of Profits Resource Misallocation, Transaction Costs, and Entrepreneurship Nirvana, Transaction Costs, and Coordination
The "Wastes" of Competition Long-run and Short-run Evaluations
Index

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