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...

The main aim of this paper is to study the extent to which the project based organization (PBO) and the latent organization determine the actual behavior of actors in a project based industry and how this is mediated by the types of contracts and rewarding practices these organizational forms...