Entrepreneurial Risk and Strategic Decision Making: It’s a Matter of Perspective

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dc.contributor.authorLowell W. Busenitz
dc.date.accessioned2016-01-14T19:52:40Z
dc.date.accessioned2016-03-30T15:33:45Z
dc.date.available2016-01-14T19:52:40Z
dc.date.available2016-03-30T15:33:45Z
dc.date.issued1999-09-01
dc.description.abstractRisk taking has long been a central theme of the entrepreneurship literature. However, research on the risk propensity of entrepreneurs has met with virtually no empirical support even though entrepreneurs consistently engage in risky events. This article attempts to resolve this paradox by examining entrepreneurial risk through the lens of cognitive psychology and decision making. The author proposes that entrepreneurial risk may be explained by recognizing that entrepreneurs use biases and heuristics more, which is likely to lead them to perceive less risk in a given decision situation. The data indicate that entrepreneurs do indeed use representativeness more in their decision making and are more overconfident than managers in large organizations. These findings provide a new perspective for understanding how entrepreneurs deal with the inordinate amount of risk associated with starting new ventures.en_US
dc.description.peerreviewYesen_US
dc.description.peerreviewnoteshttps://us.sagepub.com/en-us/nam/manuscript-submission-guidelinesen_US
dc.identifier.citationBusenitz, L. W. (1999). Entrepreneurial Risk and Strategic Decision Making: It’s a Matter of Perspective. The Journal of Applied Behavioral Science, 35(3), 325-340. doi: 10.1177/0021886399353005en_US
dc.identifier.doi10.1177/0021886399353005en_US
dc.identifier.urihttp://hdl.handle.net/11244/24846
dc.language.isoen_USen_US
dc.publisherThe Journal of Applied Behavioral Science
dc.rights.requestablefalseen_US
dc.titleEntrepreneurial Risk and Strategic Decision Making: It’s a Matter of Perspectiveen_US
dc.typeResearch Articleen_US

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