Nicolai J. Foss is Professor of Strategy and Organization at the Copenhagen Business School and Professor of Knowledge-based Value Creation at the Norwegian School of Economics and Business Administration. He also holds a number of part-time and visiting professorships at other European universities. Peter G. Klein is Associate Professor of Applied Social Sciences and Director of the McQuinn Center for Entrepreneurial Leadership at the University of Missouri. He also holds positions at the University of Missouri's Truman School of Public Affairs and the Norwegian School of Economics and Business Administration.

'It is about time entrepreneurship came into its own within economics, moving out of the mystical shadows of creative destruction and the magical imagination of the attentive entrepreneur into the more mundane and tractable reality unfolding in our empirical work. The actual content of entrepreneurial judgment has far reaching implications not only for theories of the firm, but more generally for economic organization. In this book, Foss and Klein have turned the corner on research (or lack thereof) into this important topic.' Saras Sarasvathy, Isadore Horween Research Associate Professor, University of Virginia

• List of figures; Preface; Acknowledgements; 1. The need for an entrepreneurial theory of the firm; 2. What is entrepreneurship?; 3. Entrepreneurship: from opportunity discovery to judgment; 4. What is judgment?; 5. From shmoo to heterogeneous capital; 6. Entrepreneurship and the economic theory of the firm; 7. Entrepreneurship and the nature and boundaries of the firm; 8. Internal organization: original and derived judgment; 9. Concluding discussion; References.

Nicolai J. Foss is Professor of Strategy and Organization at the Copenhagen Business School and Professor of Knowledge-based Value Creation at the Norwegian School of Economics and Business Administration. He also holds a number of part-time and visiting professorships at other European universities. Peter G. Klein is Associate Professor of Applied Social Sciences and Director of the McQuinn Center for Entrepreneurial Leadership at the University of Missouri. He also holds positions at the University of Missouri's Truman School of Public Affairs and the Norwegian School of Economics and Business Administration.

'It is about time entrepreneurship came into its own within economics, moving out of the mystical shadows of creative destruction and the magical imagination of the attentive entrepreneur into the more mundane and tractable reality unfolding in our empirical work. The actual content of entrepreneurial judgment has far reaching implications not only for theories of the firm, but more generally for economic organization. In this book, Foss and Klein have turned the corner on research (or lack thereof) into this important topic.' Saras Sarasvathy, Isadore Horween Research Associate Professor, University of Virginia

• List of figures; Preface; Acknowledgements; 1. The need for an entrepreneurial theory of the firm; 2. What is entrepreneurship?; 3. Entrepreneurship: from opportunity discovery to judgment; 4. What is judgment?; 5. From shmoo to heterogeneous capital; 6. Entrepreneurship and the economic theory of the firm; 7. Entrepreneurship and the nature and boundaries of the firm; 8. Internal organization: original and derived judgment; 9. Concluding discussion; References.

Nicolai J. Foss is Professor of Strategy and Organization at the Copenhagen Business School and Professor of Knowledge-based Value Creation at the Norwegian School of Economics and Business Administration. He also holds a number of part-time and visiting professorships at other European universities. Peter G. Klein is Associate Professor of Applied Social Sciences and Director of the McQuinn Center for Entrepreneurial Leadership at the University of Missouri. He also holds positions at the University of Missouri's Truman School of Public Affairs and the Norwegian School of Economics and Business Administration.

'It is about time entrepreneurship came into its own within economics, moving out of the mystical shadows of creative destruction and the magical imagination of the attentive entrepreneur into the more mundane and tractable reality unfolding in our empirical work. The actual content of entrepreneurial judgment has far reaching implications not only for theories of the firm, but more generally for economic organization. In this book, Foss and Klein have turned the corner on research (or lack thereof) into this important topic.' Saras Sarasvathy, Isadore Horween Research Associate Professor, University of Virginia

• List of figures; Preface; Acknowledgements; 1. The need for an entrepreneurial theory of the firm; 2. What is entrepreneurship?; 3. Entrepreneurship: from opportunity discovery to judgment; 4. What is judgment?; 5. From shmoo to heterogeneous capital; 6. Entrepreneurship and the economic theory of the firm; 7. Entrepreneurship and the nature and boundaries of the firm; 8. Internal organization: original and derived judgment; 9. Concluding discussion; References.