A Kirznerian Approach to Competitive Equilibrium

Brian C. Albrecht and Rafael R. Guthmann

(R&R, Strategic Entrepreneurship Journal) 2025

Abstract

We formalize Israel Kirzner's entrepreneurial theory of market processes, showing how entrepreneurial alertness drives markets toward competitive equilibrium. Our model bridges Austrian and neoclassical approaches to market coordination.

Keywords

  • entrepreneurship
  • competitive equilibrium
  • Israel Kirzner
  • Austrian economics
  • market process

Citation

Brian C. Albrecht and Rafael R. Guthmann (2025). "A Kirznerian Approach to Competitive Equilibrium."

BibTeX

@article{kirzner_equilibrium,
  title = {A Kirznerian Approach to Competitive Equilibrium},
  author = {Brian C. Albrecht and Rafael R. Guthmann},
  year = {2025},
}