casson-+the+entrepreneur-+2nd+ed.pdf

The Entrepreneur Team FOS Dedicated to the memory of my cousin Nowell Barlow The Entrepreneur An Economic Theory, Second Edition Mark Casson Professor of Economics, University of Reading, UK Edward Elgar Cheltenham, UK ? Northampton, MA, USA ? Mark Casson 1982, 2003 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical or photocopying, recording, or otherwise without the prior permission of the pub- lisher. Published byEdward Elgar Publishing Limited Glensanda House Montpellier Parade CheltenhamGlos GL50 1UA UK Edward Elgar Publishing, Inc. 136 West Street Suite 202 Northampton Massachusetts 01060 USA First published 1982 Second edition 2003 A catalogue record for this book is available from the British Library Library of Congress Cataloguing in Publication Data Casson, Mark, 1945– The entrepreneur : an economic theory / Mark Casson.— 2nd ed. p. cm. Includes bibliographical references and index. 1. Entrepreneurship. I. Title. HB615 .C37 2003 338'.04—dc21 2002037937 ISBN 1 85898 910 8 (cased) Typeset by Manton Typesetters, Louth, Lincolnshire, UK. Printed and bound in Great Britain by MPG Books Ltd, Bodmin, Cornwall. v Contents List of ?gures vi List of tables vii Preface to the second edition viii Introduction 1 PART I THEORETICAL FOUNDATIONS 1 The signi?cance of the entrepreneur 9 2 Basic concepts of the theory 19 3 The entrepreneur as intermediator 34 4 petitive threat to the entrepreneur 43 5 Partial coordination: the case of innovation 56 PART II THE MARKET-MAKING FIRM 6 Making a market 79 7 Internal and external markets 106 8 The market for information 119 9 Speculative intermediation and the role of inventory management 135 anizing the supply of market-making services 146 PART III SYNTHESIS 11 Growth and dynamics of the ?rm 161 12 The market for entrepreneurs 188 13 Social mobility and the entrepreneur 200 14 Alternative theories of the entrep