NDLI: The value of delays: market- and policy-induced adjustment processes as a motivating factor in dynamic entrepreneurship

Content Provider	Springer Nature Link
Author	Koch, Lambert T. Grünhagen, Marc
Copyright Year	2008
Abstract	Reaching societal consensus on how to deal with new issues, e.g. agreeing on commercial law for e-commerce, takes time. Traditional economics has considered such anomalies as market imperfections. By contrast, this paper suggests perceiving such “delays” as windows of opportunity for entrepreneurs. These considerations from evolutionary economics and entrepreneurship will be explored in a case study on disease management services in Germany. It will become clear that detailed ex ante legal regulation restricts entrepreneurial room for variation. To avoid this loss of knowledge generation, the government should abstain from introducing such premature intervention without having to challenge existing meta-rules.
Starting Page	701
Ending Page	724
Page Count	24
File Format	PDF
ISSN	09369937
Journal	Journal of Evolutionary Economics
Volume Number	19
Issue Number	5
e-ISSN	14321386
Language	English
Publisher	Springer-Verlag
Publisher Date	2008-10-16
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Evolutionary entrepreneurship Evolutionary economic policy Opportunity exploitation Window of opportunity Disease management International Economics Economic Theory Economics general
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics Business, Management and Accounting

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
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The value of delays: market- and policy-induced adjustment processes as a motivating factor in dynamic entrepreneurship