Empirical evidence suggests that entrepreneurs make mistakes: too many enter markets and, once there, persist too long. While scholars have largely settled on behavioral bias as the cause, we suggest that this consensus is premature. These mistakes may also arise from a process in which...

Recent advances in entrepreneurial practice associated with the Lean Startup has brought a sea-change in conventional wisdom to the practice of entrepreneurship – rather than commit and persevere, the advice is now to pivot your way to success. Yet this normative prescription is not as yet...

How should decision-making be organized in entrepreneurial teams when founders exhibit confidence biases? New ventures are commonly founded by teams of entrepreneurs, who must employ a decision-making structure that implicitly or explicitly defines how individual beliefs are aggregated into team...