ABSTRACT
The analysis of entrepreneurship has been one of the most challenging subjects in the history of economic analysis. Research on entrepreneurship is as old as economic analysis itself. The importance of entrepreneurs in economy has always been emphasized but it has never come as far as to be develop into a consistent and comprehensive theory on entrepreneurship. Why is that? When doing research on entrepreneurship, almost every economist comes to a point where he wonders whether the entrepreneur does not fit into orthodox economic analysis or, vice versa, orthodox economic analysis is not able to explain the phenomenon of the entrepreneur. The literature on economic behavior seems to comprise of a nearly holistic approach to the understanding of humankind’s way of dealing with scarce resources. The literature on entrepreneurship, however, is eclectic and almost fails to track the quintessence of entrepreneurial behavior.
