Purpose – Previous research has predominantly approached the concept of entrepreneurial opportunities from either one of two perspectives: opportunities exist as objective phenomena in the environment waiting to be discovered by alert entrepreneurs, or opportunities are subjectively perceived...

Purpose – The aim of this paper is to argue for an explicit foundation of market exchange on person‐to‐person relationships as an alternative to the foundation on person‐to‐goods relationship underlying the exchange model inherited from neoclassical economics and classical contract law...

Explains and outlines the ideas of the Freiburg School. Points to the fact that the constitutive (structurizing) and regulative principles for economic policy developed by this school need operationalization in order to serve as a compass for economic policy. Presents a checklist to test policy...

Argues that different elements in Eucken′s work have had insufficient attention in post‐war Germany, in science as well as in political practice. In Eucken′s thinking, order (especially order in the economic and political field and the interconnection between them) is the central concept....

Describes the methodological ideas of Eucken and points to the actual significance of them. Eucken is, in his thinking on philosophical and methodological problems, related to Husserl. The theory of the economic order ( Ordnungs‐theorie ) is interdisciplinary. All kinds of modern directions in...

Addresses the theory of capital and interest of Eucken. Explains how Eucken works out the temporal aspects of the economic process in different monetary systems, market structures and economic systems. The theory is critically evaluated. Eucken made essential contributions to the theory of...

Examines the implications of real wage rigidity for anticipated fiscal policy in the context of a small open economy operating a floating exchange rate. Employs an extended version of a Mundell‐Fleming model, containing an explicit treatment of the supply side, in which domestic output depends...

Reviews the international response to Marktform und Gleichgewicht , and questions the reactions of astonishment by some critics, including Scherer, concerning Stackelberg’s explanation of disequilibrium of certain market structures. Defends Stackelberg’s standpoint by considering the...

States that the Stackelberg leadership model is rarely used to describe market price determination perhaps because of the lack of a theoretical basis for selecting the minimum size necessary for leadership. Provides structural sufficiency conditions for selecting a unique Stackelberg leader...

Solves von Stackelberg equilibria in a Bertrand‐Edgeworth duopoly game. Shows that, initially, the environment is characterized by efficient rationing and capacity constraints. Since interest lies in sustaining monopoly outcomes from non‐co‐operative behaviour, introduces the buyout...