Entrepreneurial Decision-Making Under Risk
Year: 2021
Type: article
Abstract: This research addresses how entrepreneurs may make different decisions compared to non-entrepreneurs when they face the same opportunities. We begin by considering the nexus between opportunities and entrepreneurs/non-entrepreneurs. From an entrepreneur’s perspective, based on dual-process theory, we examine how different thinking styles influence decision-making. From an opportunity perspective, based on prospect theory, we test how different types of opportunity framing influence decision-making. The results indicate that entrepreneurs and non-entrepreneurs assess opportunities differently. Our research design also provides a new method to elicit both the subjective value model and the probability-weighting model.
Authors: Dalong Ma, James O. Fiet, David A. Dubofsky
Institutions: University of Northern Colorado, University of Louisville
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
Funder: University of Northern Colorado
OpenAlex ID: W3132503337