IDEAS home Printed from https://ideas.repec.org/a/eee/jbvent/v39y2024i4s0883902624000144.html
   My bibliography  Save this article

Non-probabilistic reasoning in navigating entrepreneurial uncertainty: A psychology of religious faith lens

Author

Listed:
  • Pidduck, Robert J.
  • Townsend, David M.
  • Busenitz, Lowell W.

Abstract

Uncertainty permeates the world of entrepreneurship. Yet, understanding how entrepreneurs perceive and make decisions in the face of uncertainty remains elusive. The value of Bayesian decision models with their probabilistic-based assumptions is only of limited help to entrepreneurs in solving the problem of uncertainty. This research extends the utility of non-probabilistic modes of entrepreneurial cognition as a supplementary epistemology for shedding light into the ‘black box’ of how entrepreneurs navigate unknowable futures. We conceptualize core insights, on how decision-makers make sense of, interpret, and act amidst life's deep uncertainties. Specifically, we introduce four decision heuristics entrepreneurs adopt—grounded in the shared foundations in broader conceptions of uncertainty from the psychology of religious faith—that help systematize why (a) intuitive insight, (b) generative doubt, (c) redemptive choice, and (d) transcendent faith, enhance our understanding of how elements of uncertainty throughout the venture development journey are often addressed. Implications for future research are discussed.

Suggested Citation

  • Pidduck, Robert J. & Townsend, David M. & Busenitz, Lowell W., 2024. "Non-probabilistic reasoning in navigating entrepreneurial uncertainty: A psychology of religious faith lens," Journal of Business Venturing, Elsevier, vol. 39(4).
  • Handle: RePEc:eee:jbvent:v:39:y:2024:i:4:s0883902624000144
    DOI: 10.1016/j.jbusvent.2024.106392
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0883902624000144
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.jbusvent.2024.106392?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Martin Obschonka & Moren Levesque, 2024. "A Market for Lemons? Strategic Directions for a Vigilant Application of Artificial Intelligence in Entrepreneurship Research," Papers 2409.08890, arXiv.org.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbvent:v:39:y:2024:i:4:s0883902624000144. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusvent .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.