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Entrepreneurs' exposure to economic uncertainty from regulation, monetary policy, and taxation is exacerbated by the inflexibility of capital asset commitments. Entrepreneurs adapt to uncertainty by reducing asset specificity. While the mainstream approach tends to focus on reduced aggregate...
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This Article explores the relationship between framing, necessitarian discourse and risk entrepreneurialism. The most … themselves. Entrepreneurs pursue risk-taking when the likelihood of harm to themselves is quite high if they don’t take the risk … probability environments.This pattern of behavior not only mirrors the choice architecture of prospect theory, but it also …
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In this paper we extend Scitovsky’s classic “A Note on Profit Maximization and its Implications” to a stochastic environment. Implications of the model with and without uncertainty are contrasted
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executive education entrepreneurship seminar to examine how positive skew influences risky choices. Both groups are found to … respond positively to skew. We estimate decision models to explore three explanations for the preference for skew: risk … of the explanation why older people are more likely to enter into entrepreneurship …
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