Entrepreneurial theories

1. Neoclassical Equilibrium Theories
   1. Everyone can recognize all entrepreneurial opportunities
   2. Personality attributes, rather than opportunity recognition, determine who will become an entrepreneur.
2. Psychological Theories
   1. Personality attributes, rather than opportunity recognition, determine who will become an entrepreneur.
   2. This process depends on peoples ability ad willingness to take action
3. Austrian Theories
   1. People cannot recognize all entrepreneurial oportunities
   2. Information about opportunities rather than fundamental personality attributes determine who becomes an entrepreneur.
   3. This process depends on other factors than people's willingness to take action.

Part of M6-S6 - Reading - Shane - Prior knowledge and the discovery of entrepreneurial opportunities