English Abstract: The aim of the paper is to introduce Kirzner's theory of entrepreneurial discovery as a complement … and an alternative to the mainstream theory. In the first and the second sections, the author explains the main influences … of Ludwig von Mises and Friedrich August von Hayek's works on entrepreneurial theory. Section three analyzes pure …

The aim of the paper is to introduce Kirzner's theory of entrepreneurial discovery as a complement and an alternative … to the mainstream theory. In the first and the second sections, the author explains the main influences of Ludwig von … Mises and Friedrich August von Hayek's works on entrepreneurial theory. Section three analyzes pure entrepreneurial profit …

institutional environment provides a guideline for entrepreneurial decision-making. Hence, an institutional environment that rewards … comparison we demonstrate that entrepreneurial decision-making plays more important role in economic development when an …