Kitzmann, Jana; Schiereck, Dirk - In: The Review of Austrian Economics 18 (2005) 2, pp. 169-178
Friedrich Hayek conjectured that the free enterprise system is the most effective in making discoveries, and Israel Kirzner refines the conjecture by saying that profit opportunities evoke entrepreneurial discovery. Demmert and Klein (2003) present the first attempt to demonstrate the...