Entrepreneurial talent consists in the ability to discover new market opportunities in a context of uncertainty. It is not confined to the sphere of production and self-employment. It exists and is a positive resource in all spheres, from creative consumption to any working activity. Research in psychology and sociology links entrepreneurial talent to certain personality traits, including creativity, imagination, willingness to take risks, and self-esteem.
Yet entrepreneurial talent does not depend uniquely on innate characteristics; it can be acquired through education, whether individual learning or social emulation. Empirical findings show indeed that, once differences in institutional context are taken into account, both educational endowment and the access to social networks play a decisive role in the decision to engage and succeed in entrepreneurial activities. Areas of theoretical and empirical application are:
- the formation of entrepreneurial preferences for innovation;
- the relationship between entrepreneurial capabilities and different socio-institutional contexts;
- the role of education in the formation of entrepreneurial human capital in complex decision-making environments;
- the measurement of entrepreneurial human capital and of the supply of entrepreneurial capabilities;
- intrinsic versus extrinsic motivations in job choices.