Baumol's theory of entrepreneurial allocation: A systematic review and research agenda

A Theoretical Expansion of Talent Allocation Model: Evidence from Selected Developing Countries from 2014-2018

“…A systematic review of 76 articles published from 2001 to 2018 analysed Baumol theory and emphasised the importance of incentives presented by institutions for entrepreneurial behaviour (Aeeni et al, 2019). This and many other studies about talent allocation to productive and entrepreneurial activities formed our literature review.…”

“…In this regard, Baumol (1990) claims that those activities that do not increase the wealth of society and only enhance their own proportion of existing wealth are called rent-seeking. Baumol believes the determining factors of entrepreneurial action are only institutional factors, but he does not notice how these factors lead talents to choose rent-seeking vs entrepreneurial activities (Aeeni et al, 2019). Boudreaux, Nikolaev, and Holcombe (2018) highlight the role of institutions in leading entrepreneurs.…”

“…Collins, McMullen, and Reutzel (2016) believe that the incentives imposed by institutions influence entrepreneurial behaviours; but some researchers focus on individual factors like intention and talent. Despite efficient institutions, during a systematic review of Baumol theory, Aeeni, Motavaseli, Sakhdari, and Mobini Dehkordi, (2019) reveal that the individual characteristics can lead talents to unproductive activities. Hmieleski and Lerner (2016) also address the individual characteristics in the tendency towards entrepreneurial activities.…”

The econometric model for assessing the economic category of a Russian farmer entrepreneur in terms of the "Innovator vs. Conservative" system

“…The present research can supplement the existing scientific results in the aspect of study of the innovative development of the economy. The introduced model provides an opportunity to determine quantitatively the structure of economic agents within the "innovator vs. conservative" system, basing on a comprehensive consideration of the individual and social and demographic characteristics of the entrepreneur (Aeeni et al, 2019;Zaremohzzabieh et al, 2019;Mthanti & Ojah, 2017;Youssef, Boubaker & Omri, 2018;Cipollone & Giordani, 2019;Klein, 2016). In addition, the results of the practical application of this model for assessing the categories of entrepreneurs allow us to obtain reliable data corresponding to the latest trends in the business development and the entrepreneurs' reaction to a changing environment, taking into account the development of the abilities for innovative thinking and action.…”

“…They actively seek new ideas, turn them into innovations and bring them to market. People who actively and intensively encourage innovations in the field of economics have been the focus of research for more than fifty years (Schon, 1963;Witte, 1977;Maidique, 1980;Markham, 2000;Aeeni et al, 2019;Zaremohzzabieh et al, 2019;Mthanti & Ojah, 2017;Youssef, Boubaker & Omri, 2018;Dvouletý, 2018).…”