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The Ontological and Epistemological Dimensions of Entrepreneurial Opportunities: Reexamining Entrepreneurial Discovery and Creation

This paper builds on the divergence between the discovery and creation approaches on the nature of entrepreneurial opportunities. A praxeological analysis presents the time-dynamic nature of entrepreneurial action, revealing inconsistencies in assuming that opportunities can be either discovered or created. This praxeological analysis is then ontologically- and epistemically-situated to show that entrepreneurial opportunities are of an epistemically-subjective nature and not always convergent with the ontologically objective opportunities emerging in the world. The concepts of discovery and creation are thus analytically reexamined in order to fit with this novel analysis.