Read the summary and the most important questions on Samenvatting artikelen

• 1 Lecture 1

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• Arbitrage and the bearing of risk and uncertainty

  Cantillon, 1755, Kirzner, 1973, 1985, Knight, 1921

• Co-ordination of factors of production

  Say, 1928, Casson, 2003

• 2 Lecture 2

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• Big five: Extraversion

  Describes the extent to which people are assertive, dominant, energetic, active, talkative, and enthusiastic

• Big five: Openness to Experience

  Is a personality dimension that characterizes someone who is intellectually curious and tends to seek new experiences and explore novel ideas

• Big five: Agreeableness

  Assesses one's interpersonal orientation. Individuals high on agreeableness can be characterized as trusting, forgiving, caring, altruistic and gullible.

• Big five: Conscientiousness

  Indicates an individuals degree of organization, persistence, hard work and motivation in the pursuit of goal accomplishment

• Big five: critiques

  Task specific traits are criterion validated: starting a business venturen, running a business venture succesfully

• Ajzen's theory of planned behaviour

  - Attitude: the belief that a behavior will lead to a particular outcome * the value of the outcome
  - Subjective norm: perceived beliefs of important others * the degree to which one complies to these important others
  - Perceived behavioral control: belief about factors that make behavior feasible (resources, skills) * evaluation of whether one has access to these factors

• 3 Lecture 3

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• What is entrepreneurship according to Shane and Venkataraman, 2000?

  The recognition and exploitation of opportunities

• Austrian (information based) approach

  - Markets try to achieve equilibrium from no equilibrium conditions
  - People process different information
  - People can not recognize all opportunities
  - Information determines who becomes an entrepreneur
  - Knowledge and discovery are driving forces of entrepreneurial action