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Fall 2011

ISSN 0890-913X

Volume 27, Number 1

Categories: Entrepreneurship | Fall 2011

Competition as a Discovery Procedure: A Rejoinder to Professor Kirzner on Coordination and Discovery

Daniel B. Klein, George Mason University

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TheJournalofPrivateEnterprise27(1),2011,121–144CompetitionasaDiscoveryProcedure:ARejoindertoProfessorKirzneronCoordinationandDiscoveryDanielB.Klein*GeorgeMasonUniversityRatioInstituteAbstractTheFall2010issueoftheJournalofPrivateEnterprisefeaturedacomplicatedsetofpapers.TheleadarticlewasalongpaperbyJasonBriggemanandmeonIsraelKirzner’sworkoncoordinationanddiscovery.ThethrustofourpaperwasanaffirmationofKirzner’scentralclaims,butwithtwoalterations.First,weproposethatthecoordinationthatfiguresintothecentralissuesoughttobeunderstoodaswhatwecallconcatenatecoordination.Second,thecentralstatementsatissueoughtnotbeassertedasholding100percentofthetime,butrathershouldbeby-and-largestatements,makingforastrongpresumption,notacategoricalresult.IsraelKirznerthenrepliedtoourpaper.ThepairofpaperswasthentheobjectofcommentarybyPeterBoettkeandDanielD’Amico,StevenHorwitz,GeneCallahan,andMartinRicketts.Here,IrespondtoKirzner.Myrepliestothecommentatorsare,becauseofspaceconstraints,notcontainedhere,butmaybefoundasanappendixinthelongerversionofthispaperavailableonline.JELCodes:A10,B00,C7,D2Keywords:Coordination;Concatenation;Discovery;EntrepreneurshipI.IntroductionWhatthemarketprocessdoesistosystematicallytranslateunnoticedopportunitiesformutuallyprofitableexchangeamongindividualsintoformsthattendtoexcitetheinterestandalertnessofthosemostlikelytonoticewhatcanbespontaneouslylearned.Inthiswaytheopportunitiesforsocialimprovementviamutuallyprofitableexchangestendtobemostrapidlydiscoveredandexploited.–IsraelKirzner(1979,p.150)*IthankJasonBriggemanforusefulcommentsonthispaper.121

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Title	Competition as a Discovery Procedure: A Rejoinder to Professor Kirzner on Coordination and Discovery
Authors/Creators:	Daniel B. Klein, George Mason University
Year:	2011
Volume:	27
Number:	1
Pages:	121 - 144
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Coordination, Concatenation, Discovery, Entrepreneurship, Kirzner, alertness

Citation:
Klein, Daniel B. / 2011. "Competition as a Discovery Procedure: A Rejoinder to Professor Kirzner on Coordination and Discovery." The Journal of Private Enterprise, 27(1): 121-144.