Entrepreneurs as scientists: A pragmatist approach to producing value out of uncertainty

Item Type Journal paper
Abstract Building on pragmatism, we advance an entrepreneur-as-scientist perspective and depict entrepreneurs as engaging in causally inferential action by forming beliefs, testing these beliefs, and responding to the feedback received. However, this sequence of entrepreneurial actions arrives with a set of companion doubts, namely doubt about product-market fit because the entrepreneurs’ beliefs are self-chosen, doubt about feedback validity from false positives or false negatives, and doubt about over- and underfitting in responses to feedback. We discuss the rationality of heuristics deployed by the entrepreneur to overcome these doubts. Our insights contribute to the micro-foundations of entrepreneurial action and strategy by explaining how entrepreneurs generate the information to produce value out of uncertainty.
Authors Zellweger, Thomas & Zenger, Todd
Journal or Publication Title Academy of Management Review
Language English
Subjects business studies
HSG Classification contribution to scientific community
HSG Profile Area Global Center for Entrepreneurship + Innovation
Refereed Yes
Date 14 October 2021
Publisher Academy of Management
ISSN 0363-7425
Publisher DOI https://doi.org/10.5465/amr.2020.0503
Depositing User Prof. Dr. Thomas Zellweger
Date Deposited 14 Oct 2021 21:07
Last Modified 08 Jun 2022 13:03
URI: https://www.alexandria.unisg.ch/publications/264591

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Zellweger, Thomas & Zenger, Todd (2021) Entrepreneurs as scientists: A pragmatist approach to producing value out of uncertainty. Academy of Management Review, ISSN 0363-7425

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https://www.alexandria.unisg.ch/id/eprint/264591
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