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Experiments on Entrepreneurial Decision Making: A Different Lens Through Which to Look at Entrepreneurship

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  • Schade, Christian
  • Burmeister-Lamp, Katrin

Abstract

In this paper, we propose that researchers might analyze key questions in entrepreneurship as problems of decision making. We believe that this allows for new insights. Experiments are especially suited to empirically test hypotheses derived within such a framework. In this paper, we thus introduce the decision-making perspective as well as general characteristics of the experimental method. We also discuss existing experimental studies in entrepreneurship with respect to the use of a decision-making perspective and specifics of their experimental designs. Finally, we present "research cases" that demonstrate the shift in perspective that occurs when common questions in entrepreneurship are analyzed through the lens of decision making. We conclude that entrepreneurial decision making (EDM) bears the potential of a scientific paradigm. This paper is intended to stimulate theory development to establish such a paradigm and (experimental) research within the perspective of EDM.

Suggested Citation

  • Schade, Christian & Burmeister-Lamp, Katrin, 2009. "Experiments on Entrepreneurial Decision Making: A Different Lens Through Which to Look at Entrepreneurship," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 5(2), pages 81-134, March.
    • Handle: RePEc:now:fntent:0300000019
    DOI: 10.1561/0300000019
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    Cited by:

    1. Grüner, S. & Hirschauer, N. & Mußhoff, O., 2015. "Potenzial verschiedener experimenteller Designs für die Politikfolgenabschätzung," Proceedings “Schriften der Gesellschaft für Wirtschafts- und Sozialwissenschaften des Landbaues e.V.”, German Association of Agricultural Economists (GEWISOLA), vol. 50, March.
    2. Hülsbeck, Marcel & Lehmann, Erik E. & Weiß, Dominik & Wirsching, Katharine, 2011. "Innovationsverhalten in Familienunternehmen," UO Working Papers 02-11, University of Augsburg, Chair of Management and Organization.
    3. Sandri, Serena & Schade, Christian & Mußhoff, Oliver & Odening, Martin, 2010. "Holding on for too long? An experimental study on inertia in entrepreneurs' and non-entrepreneurs' disinvestment choices," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 30-44, October.
    4. Pérez-Centeno, Victor, 2018. "Brain-driven entrepreneurship research: Expanded review and research agenda towards entrepreneurial enhancement," Working Papers 02/18, Institut für Mittelstandsforschung (IfM) Bonn.
    5. Urbig, Diemo & Weitzel, Utz & Rosenkranz, Stephanie & Witteloostuijn, Arjen van, 2012. "Exploiting opportunities at all cost? Entrepreneurial intent and externalities," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 379-393.
    6. Syed M. Hasan & M. Raza Mustafa Khan & Verda Arif, 2022. "Willingness of women‐led businesses in Pakistan to join formal e‐commerce platforms," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 9(3), pages 246-267, September.
    7. Shashi Bhushan Kumar & Nandan Sudarsanam, 2022. "A Decision-Making Framework for Entrepreneurial Venture in Emerging Economies," International Journal of Global Business and Competitiveness, Springer, vol. 17(1), pages 11-23, June.

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