The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd


  • Mark Casson
Reference work entry


There are several theories of the entrepreneur, but very few mathematical models which formally analyse entrepreneurial behaviour within a closed economic system. Indeed, it is often argued that by its very nature entrepreneurial behaviour cannot be predicted using deterministic models. Entrepreneurship, it is claimed, is essentially a spontaneous and evolutionary phenomenon.

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Authors and Affiliations

  • Mark Casson
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