We develop a theory of the supply side of art markets building on Kirzner’s understanding of entrepreneurship as alertness to profit opportunities. Whereas Kirzner’s entrepreneur is alert to the existence of resource misallocation, the artistic genius is alert to the opportunity of producing...

I investigate the mechanisms that drive sorting into entrepreneurship and entrepreneurial success among young individuals. I use Canadian matched owner-employeremployee data to conduct my investigation. Empirically, older entrepreneurs and entrepreneurs who have previously worked in high-wage...