En mi último escrito junto a Peter Lewin expandimos nuestro trabajo en finanzas y teoría de capital al ámbito de empresarial. En concreto, las ganancias y pérdidas que en empresario «observa» poseen un componente subjetivo. Por ejemplo, hay gastos que pueden ser considerados inversión o gatos operativos (como la creación de una marca). Este componente subjetivo altera el resultado económico observado de un emprendimiento.

La visión empresarial (el alertness de Kirzner) no opera sólo de la empresa hacia afuera, también opera dentro la propia empresa. Saber leer la correcta naturaleza de distintos gastos es parte de la necesaria visión empresarial de un emprendedor éxitos.

Abstract

In order to identify and evaluate an entrepreneurial opportunity calculation is required. The entrepreneur must do more than simply perceive an opportunity to do something new to create value in the marketplace. Insofar as alternative possible actions exist, the entrepreneur must choose between them. And even as the chosen opportunity is pursued, he must choose between alternative modes of production and organization in the ongoing combination of resources. It has been pointed out that this requires monetary calculation. Little beyond this has been said in the entrepreneurial literature. The details of the kind of calculation required have been left mostly implicit. This article borrows from the finance literature to suggest a general and universal framework for such calculation and to offer one possible more specific method for using that framework for ongoing entrepreneurial judgment calls.

Acceder al paper en SSRN.