The Austrian theory of entrepreneurship emphasizes the importance of epistemic heterogeneity and the unlistability of the set of all possibilities. A similar concern with what has been called “the art of choosing the space of possibilities” is an important part of Bayesian model selection....

Presents an overview and analysis of theconceptual basis and the main policy-design principles of the European Union(EU) approach to entrepreneurship policy, which includes small and medium-sizedenterprises (SMEs), innovation, and competitiveness.The first stages ofpolicydevelopment -...