【正文】 profit maximization on the firm。 Joas, 1996). We want to stress that we do not mean creative action to be “irrational”, nor do we suggest that rationality cannot lead to creative outes in the colloquial sense., we need to first examine what we know so far about creative action.In a powerful theoretical exposition, Joas (1996) has argued in considerable detail for the fundamentally creative nature of all human action. “All theories of action which proceed from a type of rational action – irrespective of whether they are based on a narrower or broader, a utilitarian or a normative concept of rationality – make at least three assumptions. They presuppose firstly that the actor is capable of purposive action, secondly that he has control over his own body, and thirdly that he is autonomous vis224。 Tversky amp。 and it has long been criticized for it. For example, studies have shown that that there are severe limits lack of knowledge, putational ability, and ability to consider more than a few factors simultaneously that place an upper bound on human objective rationality (Simon, 1959。 and before there are markets, there are human aspirations. Creative outputs of the human imagination in every realm of human action be it the arts or the sciences, sports or philosophy, bee inputs for the economic domain. It is an empirical fact that profits for the individual and the firm, and welfare for the economy e as much from Jerry Seinfeld’s jokes and Michael Jordan’s baskets, as from great technological inventions and the tearing down of the Berlin wall. Similarly, human aspirations may range from career goals and individual prosperity to freedom and justice and the good life for all and peace on earth. These aspirations have to be transformed into demand functions and markets for specific economic artifacts such as particular goods, services and firms. Entrepreneurship consists in matching up the products of human imagination with human aspirations to create markets for goods and services that did not exist before the entrepreneurial act. In fact, most entrepreneurial opportunities, be they supply based or demand based, do not originate in the economic domain at all. For example, the internet was developed as a way to facilitate munication between defense scientists and remained out of the economic domain for several years. The mere existence of the internet did not guarantee the development of emerce. Rather, this artifact created to solve a political problem (namely, defense), had to be transformed through several intentional and unintentional activities to bee a universe of entrepreneurial opportunities in the economic domain. To cite another example, entrepreneurs such as Robert Lucas transform literary and artistic endeavors into the Star Wars marketing empire by matching up creations of the human imagination with human aspirations such as the desire to participate in the triumph of good over evil. That is why if we are to understand entrepreneurial opportunities, we have to delve into the preconditions for their existence ., the preconditions for the existence of demand and supply binations that constitute entrepreneurial opportunities. This leads us to a simple typology of entrepreneurial actions in relation to opportunities as follows: 1. Opportunity RecognitionIf both sources of supply and demand exist rather obviously, the opportunity for bringing them together has to be recognized and then the matchup between supply and demand has to be implemented either through an existing firm or a new firm. Examples include arbitrage and franchises. For example, through its first successful coffee shop, Starbucks proved the existence of a demand for specialty coffees as also a viable and effective way to satisfy that demand. Thereafter, each Starbucks franchisee only has to recognize potential geographic locations for extending that demand and supply bination. They do not have to invent sources of supply, or induce demand for a pletely new product.2. Opportunity DiscoveryIf only one side exists in an obvious manner and the other side either does not exist or is so latent as to be virtually nonexistent for most people ., demand exists, but supply does not, and vice versa then, the nonexistent side has to be discovered before the matchup can be implemented. In other words, when demand exists。2. Demand side: One or more ends – may be subjective (endogenous) aspirations or objective (exogenous) goals or both。 Shane and Venkataraman, 2000。 Sarasvathy and Simon, 2000。 The entrepreneur not only has an idea for a product or firm, but also has some personal aspirations and/or goals in pursuing the opportunity. Goals could be as specific as making an IPO in five years to creating a legacy for their children. And aspirations could range from making money to enjoying an independent lifestyle to changing the world. Furthermore, these aspirations and goals could change and new ones could emerge over time. 3. Beliefs about things favorable to the achievement of those ends。 supply has to be discovered. An example of this is Ron Popeil and his inventions for more convenient and health conscious kitchen devices. On the other side of the coin, supply might exist。 Payne, Bettman amp。 Kahneman, 1982). Although this does not imply that decision makers are irrational, it shows that they must usually use heuristics and approximate inductive logics that nevertheless often lead to very effective decisions (Gigerenzer, Hell amp。vis his fellow human beings and environment. … The proponents of such conceptions are well aware that the preconditions assumed by the model of rational action are frequently not to be found in empirically observable action. However, these writers are forced to claim that the limited degree to which these preconditions obtain is not a deficiency of their particular theory but a fault of the actors themselves. … I am not in any way de