A Tale of Two Kirzners: Time, Uncertainty and the ’Nature’ of Opportunities
Journal article, 2016

This paper discusses the influence of Israel Kirzner on the field of entrepreneurship research. We review Kirzner’s work and argue that it contains two distinct approaches to entrepreneurship, termed Kirzner Mark I and Kirzner Mark II. Mark I with its focus on alertness and opportunity discovery has exerted a strong influence on entrepreneurship research in the last decade, and helped catapult the field forward. We propose that Mark II, with its emphasis on time, uncertainty and creative action in pursuit of imagined opportunities, complements the discovery view and can provide an alternative conceptual grounding for the decade to come.



Austrian Economics


Steffen Korsgaard

Aarhus University

University of Oslo

Henrik Berglund

Chalmers, Technology Management and Economics, Innovation and R&D Management

Per Blenker

Aarhus University

Claus Thrane

Aarhus University

Entrepreneurship: Theory and Practice

1042-2587 (ISSN)

Vol. 40 4 867-889

Subject Categories

Psychology (excluding Applied Psychology)


Business Administration

Driving Forces

Innovation and entrepreneurship



More information

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5/8/2018 6