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Abstract

Although consensus on a definition of Arts Entrepreneurship (AE) is helpful, formal theories are needed to help AE researchers and educators explain what the general AE process is and why it matters. Asdiscussed in this article, such theories can help us understand the relationship between art innovation, artmarket creation and art value exchange in Artworlds. Such theories can also help AE educators in particular clarify distinctions and similarities between the systematic practice of AE and businessentrepreneurship, challenge past and present assumptions about AE and may encourage AE educators to pivot towards new pedagogical directions.

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