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Informational economics as the science of what is possible

In: The Entrepreneurial Solution to Poverty and the Science of What is Possible

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Abstract

Scholars have identified four different roles played by aspiring entrepreneurs in the discovery of venture opportunities. The poor may not know it yet but one way for them to escape poverty would be to discover their own opportunities by being successful in one of these roles. What each of these roles has in common is that the discovery process consists of the acquisition of specific, risk-reducing information. Uncertain returns from such investments may deter poverty stricken entrepreneurs from making discoveries. This approach, based on the science of informational economics, suggests that the vision to make entrepreneurial discoveries depends on making cost-effective informational investments, not on special talents possessed by only those with resources of their own, which provides an opening for the poor.

Suggested Citation

  • ., 2022. "Informational economics as the science of what is possible," Chapters, in: The Entrepreneurial Solution to Poverty and the Science of What is Possible, chapter 2, pages 15-35, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21624_2
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    Cited by:

    1. Lyubomir Lyubenov & Anelia Lyubenova, 2023. "Bulgaria’s Financial Markets In Agribusiness - Size, Structure And Development Trends," Economic Archive, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 2 Year 20, pages 48-61.

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