 Modeling constrained, systematic search as an instrument of informational economics. Chapter 4 in The Entrepreneurial Solution to Poverty and the Science of What is Possible, 2022, pp 59-82 from Edward Elgar Publishing Abstract: Constrained, systematic search works because it is less costly and risky than alternative approaches, assuming we hold constant an entrepreneur's timing and place. Knowing that it works theoretically, justifies field testing it among the poor. Specifically, this chapter examines how the entrepreneurial poor can search systematically with intention for discoveries. It uses consideration sets to impose constraints on how and where to search. A consideration set is a promising group of information channels, which an entrepreneur can select and search based on prior knowledge. To decide how to search the channels, I apply mathematical formalism to illustrate a maximal search sequence. Because there is some probability that a search sequence could continue indefinitely, this chapter determines stopping rules. It argues that entrepreneurial search is more feasible within a consideration set than it is in the rest of the world, including in the world of the poor. Keywords: Business and Management; Development Studies; Economics and Finance; Politics and Public Policy Sustainable Development Goals (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21624_4 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.