The ramifications of effectuation on biases in entrepreneurship – Evidence from a mixed-method approach

Stephen X. Zhang, Maw-Der Foo and Roberto S. Vassolo

Journal of Business Venturing Insights, 2021, vol. 15, issue C

Abstract: The disconnect between the effectuation literature and the cognitive bias research creates artificial boundaries to inhibit the development of a more integrated understanding of decision-making in entrepreneurship. We analyze the effect of effectuation vis a vis on the biases of overconfidence and illusion of control. We test the effect in both a field survey with entrepreneurs and an experiment. Unraveling the patterns of relationships between effectuation and biases helps ground the burgeoning effectuation theory to more established cognitive science theories and advance the scholarly understanding of entrepreneurial decision-making.

Keywords: Entrepreneurial decision-making; Entrepreneurial biases; Entrepreneurial heuristics; Heuristics and biases; Mixed method (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S2352673421000160
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jobuve:v:15:y:2021:i:c:s2352673421000160

DOI: 10.1016/j.jbvi.2021.e00238

Access Statistics for this article

Journal of Business Venturing Insights is currently edited by Dimo Dimov

More articles in Journal of Business Venturing Insights from Elsevier
Bibliographic data for series maintained by Catherine Liu ().