ABSTRACT
The purpose of the following two chapters is to examine the institutional conditions conducive to entrepreneurship. They address the question: what does the theory of entrepreneurship imply will foster the creation, discovery and exploitation of entrepreneurial opportunities? In dealing with this issue, I draw upon the analysis in the previous chapter on the psychological determinants of entrepreneurial alertness. This chapter considers the comparative effectiveness of alternative institutions for evoking a strong sense of personal agency and stimulating entrepreneurial discovery. The starting point is to consider how different conceptions of the entrepreneurial function, its locus and character will affect such comparative analyses.
