Opportunitieswhich fail becauseof weak incentives

or motivation

Externalaspects

Opportunities which passed the external aspects,the competence and the incentive test

Entrepreneurial ability

Opportunitieswhich require toomuch ability/skill

Opportunities excludedby law or lack of climateor market condition, etc.

Entrepreneurialmotivation

Realized opportunitiesUnrealized opportunitiesUnidentified opportunities

Set of all possible plans

E Iso-utilitycurves

iso-utilidade

Efficientfrontiereficiente

Utilityincreaseutilidade

Optimalplane

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