Entrepreneurship and the market economy : a new perspective / Mark Casson (Professor of Economics and Director, Centre for Economic Institutions and Business History, University of Reading, UK).

Format:

Book

Author/Creator:

Casson, Mark, author.

Contributor:

Edward Elgar Publishing, publisher.

Language:

English

Subjects (All):

Entrepreneurship.

Capitalism.

Genre:

Electronic books.

Physical Description:

1 online resource (332 pages)

Place of Publication:

Northampton : Edward Elgar Publishing, 2024.

Summary:

"This innovative book proposes a new way of analysing the market process, focusing on market-making entrepreneurs. Synthesising key insights from mainstream economics, modern entrepreneurship theory and network theory, Mark Casson examines how market segmentation driven by location and culture generates opportunities for profit for entrepreneurs. Building on theories from John Stuart Mill, Alfred Marshall and Maurice Allais, Casson applies modern mathematical and linear programming techniques to solve key economic issues. He explores how entrepreneurs intermediate trade and appropriate profit through exploiting differences between wholesale and retail prices. Drawing from diverse alternative approaches to entrepreneurship, he presents a wide-ranging view of the field and identifies important avenues for future research. The book ultimately illustrates a novel entrepreneurship model that uses the connections between entrepreneurs, customers and producers to predict profit margins, price dispersions and the micro-structure of markets. Providing clear insight into both the operation of the market process and the practical behaviour of entrepreneurs, Entrepreneurship and the Market Economy is an essential resource for academics and students across economics and business studies"-- Provided by publisher.

Contents:

Contents: Preface and acknowledgements

Part I. Basic concepts

1. Introduction to entrepreneurship and the market economy

2. Defining entrepreneurship

3. Coordination

Part II. Institutions of entrepreneurship

4. The market as an institution

5. The firm as an institution

Part III. Formal modelling of entrepreneurship

6. An Introduction to formal models of entrepreneurship

7. A systematic approach to modelling entrepreneurship

8. The distribution of income

9. Entrepreneurial strategy

Part IV. Entrepreneurship theory in context

10. Beyond competition: Co-operation, collusion and agglomeration

Part V. Entrepreneurship theory in perspective

11. The history of economic thought

12. Conclusions and policy implications

Appendix a1: Generalising marshall's model of the market to accommodate price dispersion

Appendix a2: Modelling entrepreneurship in a marshallian context

Appendix a3: Alternative configurations of market linkages

Appendix a4: The contribution of maurice allais.

Notes:

Includes bibliographical references and index.

ISBN:

9781035341542 (e-book)

Access Restriction:

Restricted for use by site license.