Guided by insights from cognitive theories, this article explores the links between entrepreneurs' prior business ownership experience and their opportunity identification behavior. Hypotheses were tested using data from 630 entrepreneurs. Experienced entrepreneurs identified more opportunities...

Entrepreneurial (i.e. business ownership) experience may enable some entrepreneurs to temper their comparative optimism in subsequent ventures. The nature of entrepreneurial experience can shape how entrepreneurs adapt. Using data from a representative survey of 576 entrepreneurs in Great...