Abstract

TARAPUEZ CHAMORRO, EDWIN; ZAPATA ERAZO, JAIRO ANDRÉS  and  AGREDA MONTENEGRO, ESPERANZA. Knight and his contributions to the entrepreneur theory. estud.gerenc. [online]. 2008, vol.24, n.106, pp.83-98. ISSN 0123-5923.

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.

Keywords : Frank Knight; entrepreneur; enterpriser; uncertainty; risk; benefit.

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