Coase and the Kirznerians

22 Pages Posted: 9 Sep 2011 Last revised: 29 Jan 2014

See all articles by Tomáš Otáhal

Tomáš Otáhal

Mendel University - Faculty of Economics and Business Administration

Date Written: September 8, 2011

Abstract

I interpret the theory of entrepreneurial discovery from the perspective of the theory of property rights. I analyze pure entrepreneurial profit and the logical construction of the theory as an extension of neo-classical microeconomic analysis and I argue that the key motivation for entrepreneurial discovery, the opportunity to discover pure entrepreneurial profit, is given by the structure of property rights. The structure of property rights determines entrepreneurial claims for pure profit, the level of protection against conflict of interest, costs of exclusive production means and social order.

Keywords: Entrepreneur, equilibrium, human action, knowledge, property rights

JEL Classification: B52, B53, D23, L26

Suggested Citation

Otáhal, Tomáš, Coase and the Kirznerians (September 8, 2011). Available at SSRN: https://ssrn.com/abstract=1924255 or http://dx.doi.org/10.2139/ssrn.1924255

Tomáš Otáhal (Contact Author)

Mendel University - Faculty of Economics and Business Administration ( email )

Staňkova 578/16b
Brno, 602 00
Czech Republic

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