{"product_id":"the-microtheory-of-innovative-entrepreneurship-the-kauffman-foundation-series-on-innovation-and-entrepreneurship","title":"The Microtheory of Innovative Entrepreneurship (The Kauffman Foundation Series on Innovation and Entrepreneurship)","description":"\u003cp\u003eAn authoritative look at the microeconomics of entrepreneurship  Entrepreneurs are widely recognized for the vital contributions they make to economic growth and general welfare  yet until fairly recently entrepreneurship was not considered worthy of serious economic study. Today  progress has been made to integrate entrepreneurship into macroeconomics  but until now the entrepreneur has been almost completely excluded from microeconomics and standard theoretical models of the firm. The Microtheory of Innovative Entrepreneurship provides the framework for introducing entrepreneurship into mainstream microtheory and incorporating the activities of entrepreneurs  inventors  and managers into standard models of the firm.  William Baumol distinguishes between the innovative entrepreneur  who comes up with new ideas and puts them into practice  and the replicative entrepreneur  which can be anyone who launches a new business venture  regardless of whether similar ventures already exist. Baumol puts forward a quasi-formal theoretical analysis of the innovative entrepreneurs influential role in economic life. In doing so  he opens the way to bringing innovative entrepreneurship into the accepted body of mainstream microeconomics  and offers valuable insights that can be used to design more effective policies. The Microtheory of Innovative Entrepreneurship lays the foundation for a new kind of microtheory that reflects the innovative entrepreneurs importance to economic growth and prosperity.\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":44986978664501,"sku":"ByrdShop_0691145849","price":21.05,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780691145846.jpg?v=1770922108","url":"https:\/\/atxbooks.com\/products\/the-microtheory-of-innovative-entrepreneurship-the-kauffman-foundation-series-on-innovation-and-entrepreneurship","provider":"ATX Books","version":"1.0","type":"link"}