KNIGHT AND HIS CONTRIBUTIONS TO THE ENTREPRENEUR THEORY (Article published in Spanish)
DOI:
https://doi.org/10.1016/S0123-5923(08)70033-0Keywords:
Frank Knight, entrepreneur, enterpriser, uncertainty, risk, benefitAbstract
At the end of XIX century, Economists attention was centered in the study of business capabilities and some facts that determinate a type of benefit improperly studied until that moment, arising the concept of entrepreneur. Knight considers the entrepreneur as unique productive factor; he settles down a clear distinction between risk and uncertainty and by means of them explains the benefit perceived. The entrepreneur is conceived by Knight, as a dynamic and innovating agent of development. Knight explains that the entrepreneur’s benefit comes from his ability to manage uncertainty.
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