Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/265826 
Year of Publication: 
2022
Series/Report no.: 
IZA Discussion Papers No. 15605
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Based on a review of 700+ peer-reviewed articles since 1990, identified using text mining methodology and supervised machine learning, we analyze how neo-Schumpeterian growth theorists relate to the entrepreneur-centered view of Schumpeter (1934) and the entrepreneurless framework of Schumpeter (1942). The literature leans heavily towards Schumpeter (1942); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are (probabilistically) deterministic, the entrepreneur becomes redundant. Abstracting from genuine uncertainty, implies that central issues regarding the economic function of the entrepreneur are overlooked such as the roles of proprietary resources, skills, and profits.
Subjects: 
creative destruction
economic growth
entrepreneur
innovation
judgment
Knightian uncertainty
JEL: 
B40
O10
O30
Document Type: 
Working Paper

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