Subjective value in entrepreneurship

Per Bylund and Mark D. Packard ()
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Mark D. Packard: University of Nevada

Small Business Economics, 2022, vol. 58, issue 3, No 2, 1243-1260

Abstract: Abstract We produce a definition and argument for explicitly adopting value subjectivism in entrepreneurship research. While the field has progressively shifted toward subjectivism over the past decades, we remain saddled with positivist baggage in our theories’ definitions of key variables, including the concept of value. Although modern scholars readily admit that value is subjective, what is generally meant by this is that it is idiosyncratically determined. We argue that value is more appropriately defined, atop pure subjectivism, as an increase in subjective satisfaction or well-being. We develop and elaborate on this definition and explore its implications for entrepreneurship theory and policy.

Keywords: Entrepreneurship; Subjective value; Subjectivism; Philosophy of science; L26; D46; B53 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (6)

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DOI: 10.1007/s11187-021-00451-2

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