Entrepreneurship, entrepreneurial training, and x-efficiency theory

A basic motivational component of entrepreneurship is an individual's commitment to overcome gaps and obstacles in imperfect markets. Research associated with n Achievement theory indicates the possibility of the selection and training of potential entrepreneurs, and therefore a means to increase the supply of entrepreneurs. A tendency to glorify entrepreneurship, and the use of a ‘tight’ equilibrium concept, make it difficult to integrate entrepreneurship into standard economic theory, despite the desirability of doing so. X-efficiency theory accommodates a non-heroic view of entrepreneurs, which in turn allows for the inclusion or entrepreneurial training in the model.