Exploring entrepreneurial decision-making strategies

Autor:	Thomas C. Neil, William Benjamin Martz, Alessandro Biscaccianti
Rok vydání:	2006
Předmět:	Microeconomics Satisfaction level Management science Management of Technology and Innovation Loss aversion Economics Satisficing Context (language use) Limited resources Education
Zdroj:	International Journal of Innovation and Learning. 3:658
ISSN:	1741-8089 1471-8197
DOI:	10.1504/ijil.2006.010518
Popis:	The way individuals make decisions has been researched from many contexts giving rise to theoretical explanations. Two of these theories, a satisficing model and a reference-dependent model, evolved from this research. The purpose of this study is to explore how well these models explain the decision making observed in a hypothetical entrepreneurial, managerial setting that allocates a limited resource among ten interlocked alternatives over two decision periods. The results show that in this context, decision making is reference dependent. Further analysis demonstrates that a model based on aspiring to a minimal satisfaction level (aspiration seeking) better explains the results.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::cb569042adeb0846091eb39f641b835f https://doi.org/10.1504/ijil.2006.010518 Zobrazit plný text záznamu