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Biographical note
Mark Casson, Professor of Economics and Director, Centre for Economic Institutions and Business History, University of Reading, UK<i>‘This important new book paves a new and bold path in thinking about the role of entrepreneurship in the economy. The pivotal influence of entrepreneurship depicted in this book will no doubt shape thought leaders in research, business and policy for years to come.’</i>
- David B. Audretsch, Indiana University, US,
<i>‘Mark Casson is a scholar of both history and entrepreneurship, a fact revealed in a fascinating fashion in this book. While work in entrepreneurship has brought many aspects of traditional neoclassical economics into question, Casson shows that there is a symbiosis between traditional economic approaches and more recent work in entrepreneurship and provides both a synthesis and road map forward for both economists and entrepreneurship scholars.’</i>
- Timothy M. Devinney, University of Manchester, UK,
<i>‘Professor Casson’s understanding and explanation of the myriad ways in which entrepreneurship affects and is affected by the market economy is nonpareil. His blend of theory and practice is enlightening, and this book will certainly advance how students and scholars approach their research in the future.’</i>
- Albert N. Link, University of North Carolina at Greensboro, US,
<i>‘In this book Mark Casson extends his economic theory of entrepreneurship so that conventional economic modelling can incorporate entrepreneurship for the first time. Policy makers and economists must take note!’</i>
- Andrew Godley, University of Sussex, UK,
Building on theories from John Stuart Mill, Alfred Marshall and Maurice Allais, Casson applies modern mathematical and linear programming techniques to solve key economic issues. He explores how entrepreneurs intermediate trade and appropriate profit through exploiting differences between wholesale and retail prices. Drawing from diverse alternative approaches to entrepreneurship, he presents a wide-ranging view of the field and identifies important avenues for future research. The book ultimately illustrates a novel entrepreneurship model that uses the connections between entrepreneurs, customers and producers to predict profit margins, price dispersions and the micro-structure of markets.
Providing clear insight into both the operation of the market process and the practical behaviour of entrepreneurs, Entrepreneurship and the Market Economy is an essential resource for academics and students across economics and business studies.