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Nicolai J. Foss

Nicolai Juul Foss is Professor of Strategy at the Department of Strategy and Innovation at the Copenhagen Business School (CBS), an Honorary Adjunct Professor, Department of Marketing and Management, University of Southern Denmark, and External Chair, Danish Institute for Advanced Studies, 2020–2025. He was created a Knight of the Order of the Dannebrog in 2015. He is an Associated Scholar of the Mises Institute.

Media

The Continuing Relevance of Austrian Capital Theory

Nicolai J. Foss
Authors Forum: Organizing Entrepreneurial Judgment: A New Approach to the Firm

Nicolai J. Foss|Peter G. Klein

Articles

Can Machines Judge?

10/29/2026 Power & Market Nicolai J. Foss

A long-standing claim in the entrepreneurship literature is that entrepreneurship cannot be reduced to optimization. The entrepreneur does not simply solve a well-specified problem by feeding known...

Competition Is a Discovery Procedure: When Schumpeter Meets Hayek

08/26/2026 Power & Market Nicolai J. Foss

There is a basic and probably familiar tension in the economics of innovation: competition is regarded as desirable because it disciplines incumbents, reallocates resources toward more productive...

How Do CEOs Make Strategy?

04/14/2026 Power & Market Nicolai J. Foss

Do high-performing firms win because they choose better strategies, or because they have better processes for making strategy in the first place? If strategy is ultimately about managerial judgment...

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Publications

Organizing Entrepreneurial Judgment

01/11/2016 Nicolai J. Foss Peter G. Klein

Now entrepreneurship classes are all the rage. While in real life government strangles businesses large and small everyday, the academic community has finally woken up to what creates wealth—entrepreneurial activity. This is a positive sign. And

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

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