The debate about the arguments of firms’ objective function is undoubtedly one of the oldest and unresolved of industrial economics.1 However, an even more puzzling and conceptually prior question concerns the very definition of entrepreneur and firm. Just to mention two of the most famous definitions we can remind Cantillon’s view of the entrepreneur as someone who assumes the risk and may legitimately appropriate any profits and the Schumpeterian view, which depicts the entrepreneur as the innovator who implements change within markets through the carrying out of new combinations.
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