The Search for Entrepreneurial Opportunity

This paper presents a conceptual framework which can be used to analyse the process of entrepreneurial opportunity discovery. An opportunity can be considered as a project whose exploitation would be advantageous to the entrepreneur. The entrepreneur has to use judgment in deciding which projects are most worthwhile to put into operation. One important aspect of this is the question of how the entrepreneur is to apply judgment in deciding what information to gather, given the need to economise on the costs of doing so.