Abstract
The paper shows the influence of the “spirit of enterprise” (i.e. the prevailing type of thinking and judging) on the entrepreneurial decisions, especially on those decisions which determine the technical progress. The “spirit of enterprise” is explained by intertemporal transfer of valuations, which are modelled by a Markov Chain. A technology is defined as the set of input and output coefficients. Only discrete distributions of these coefficients are admitted. The theory of Markov Chains shows that there may be cyclical solutions — the “long waves” of Kondratiev.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Albach, H. (2000): Allgemeine Betriebswirtschaftslehre — Einführung. Wiesbaden.
Albach, H. (2000): Eine allgemeine Theorie der Unternehmung. In: WHU, Otto Beisheim Graduate School of Management, Center for International Management. Vallendar.
Albach, H. (1994): Culture and Technical Innovation. A Cross-Cultural Analysis and Policy Recommendations. Forschungsbericht 9. Akademie der Wissenschaften zu Berlin. Berlin.
Albach, H. (1991): Unternehmen im Wettbewerb. Wiesbaden.
Albach, H. (1990): The Management of the Innovation Process in Firms. Economia Aziendale Vol. IX(1990)1: 35–42.
Albach, H. (1989): Geleitwort zu Thomas Petersen. In: Optimale Anreizsysteme V–VII. Wiesbaden.
Badke, M. (1990): Eine Theorie des technischen Fortschritts I–IV. In: Discussion Papers B137–140, SFB 303. Bonn. April 1990.
Debreu, G. (1974): Excess Demand Functions. Journal of Math.Ec. 1(1974).
Dhrymes, P. (1970): Econometrics — Statistical Foundations and Application. New York et al.
Ferschl, F. (1970): Markovketten. In: Lecture Notes in Operations Research and Mathematical Systems, Nr. 35. Berlin et al.
Jöreskog, K.; D. Sörb; V. Lisrel (1981): Usert’s Guide. International Education Services. Chicago.
Krelle, W. (to appear 2001): Production Theory as a Part of a Dynamic General Equilibrium System.
Krelle, W. (1999): Eine alternative Theorie des Konsumverhaltens. ifo-Studien (1999)4: 513–524.
Krelle, W. (Hg.) (1989): The Future of the World Economy. Berlin et al.
Krelle, W. (1988): Latent Variables in Econometric Models. In: Discussion Paper B-104 (10/1988), SFB 303. Bonn.
Krelle, W. (1988): Unbeobachtbare Größen als Bestimmungsfaktoren der Wirtschaftsentwicklung. In: Forschungsbericht der Universität Bonn 1981–1986. Bonn: 139–150.
Krelle, W. (1987): Long-Term Fluctuations of Technical Progress and Growth. Zeitschrift für die gesamte Staatswirtschaft (Journal of Institutional Economics) 143(1987): 379–401.
Von Neumann, J.; O. Morgenstern (1961): Spieltheorie und wirtschaftliches Verhalten. Würzburg (Translation of „Theory of Games and Economic Behavior“, 3rd ed. (1953).
Schneeweiss, H. (1984): Modelle mit latenten Variablen. Paper read at the Conference in honor of the late Günther Menges. Heidelberg.
Wold, H. (1980): Model Construction and Evaluation when Theoretical Knowledge is Scarce: Theory and Application of Partial Least Squares. Evaluation of Econonic Models.
Notes
For the estimation problem see Schneeweiß (1984), Wold (1980), Jöreskog and Sörbom (1981). Other methods for such as factor analysis and principal components are explained in Dhrymes (1970).
For an overview, see Krelle (1968), ch. 5 and 6.
von Neumann-Morgenstern (1961); Interpretation see Krelle (1968: 82–85).
The main alternatives have been analysed already in the 60ies, see, e.g. Krelle (1968: 171–205).
For details see Krelle (1984). There is a large literature on Markov chains; I mention only Ferschl (1970).
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2001 Springer Fachmedien Wiesbaden
About this chapter
Cite this chapter
Krelle, W. (2001). The Spirit of Enterprise as Driving Force of Technical Progress. In: Sadowski, D. (eds) Entrepreneurial Spirits. Gabler Verlag, Wiesbaden. https://doi.org/10.1007/978-3-322-89484-7_2
Download citation
DOI: https://doi.org/10.1007/978-3-322-89484-7_2
Publisher Name: Gabler Verlag, Wiesbaden
Print ISBN: 978-3-322-89485-4
Online ISBN: 978-3-322-89484-7
eBook Packages: Springer Book Archive