THE ISSUE OF RATIONALITY IN CAUSAL AND EFFECTUAL APPROACHES TO ENTREPRENEURSHIP

Mihaela Mikic (), Dinko Primorac () and Tin Horvatinovic ()
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Mihaela Mikic: Faculty of Economics and Business in Zagreb
Dinko Primorac: University North
Tin Horvatinovic: Faculty of Economics and Business in Zagreb

Economic Thought and Practice, 2021, vol. 30, issue 1, 225-242

Abstract: Causal and effectual approaches to entrepreneurship are the most researched approaches in explaining how entrepreneurs take advantage of business opportunities. In research dealing with the topic of causal and effectual approach to entrepreneurship, the topic of the rationality of the two approaches has frequently come up. That is, many authors present views on the rationality of choosing between these two approaches and the rational harmonization of their basic principles. The aim of this paper is to critically analyze the various views proposed in the literature on the topic of rationality in the context of a causal and effectual approach to entrepreneurship. The analysis shows that most authors use rationality as an absolute concept and that they analyze the internal coherence of a causal and an effectual approach to entrepreneurship. However, no author clearly defined the concept of rationality thoroughly, they did not rigorously adhere to the concept and they made misleading use of the term rationality. Finally, based on the conducted data analysis, suggestions for future research are put forward.

Keywords: causality; effectuality; rationality (search for similar items in EconPapers)
JEL-codes: L26 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.17818/EMIP/2021/1.11

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