全球智库信息集成服务系统(G2TT): DP12421 A Scientific Approach to Entrepreneurial Decision-Making: Evidence from a Randomized Control Trial

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP12421
	DP12421 A Scientific Approach to Entrepreneurial Decision-Making: Evidence from a Randomized Control Trial
	Alfonso Gambardella; Arnaldo Camuffo; Alessandro Cordova
发表日期	2017-11-02
出版年	2017
语种	英语
摘要	A classical approach to collecting and elaborating information to make entrepreneurial decisions combines search heuristics such as trial and error, effectuation, and confirmatory search. This paper develops a framework for exploring the implications of a more scientific approach to entrepreneurial decision making. The panel sample of our randomized control trial includes 116 Italian startups and 16 data points over a period of about one year. Both the treatment and control groups receive 10 sessions of general training on how to obtain feedback from the market and gauge the feasibility of their idea. We teach the treated startups to develop frameworks for predicting the performance of their idea and to conduct rigorous tests of their hypotheses very much like scientists do in their research. We let the firms in the control group, instead, follow their intuitions about how to assess their idea, which has typically produced fairly standard search heuristics. We find that entrepreneurs who behave like scientists perform better, pivot to a greater extent to a different idea, and do not drop out less than the control group in the early stages of the startup. These results are consistent with the main prediction of our theory: a scientific approach improves precision – it reduces the odds of pursuing projects with false positive returns, and raises the odds of pursuing projects with false negative returns.
主题	Industrial Organization
关键词	entrepreneurship Decision-making Scientific method Startup Randomized control trial
URL	https://cepr.org/publications/dp12421
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/541230
推荐引用方式 GB/T 7714	Alfonso Gambardella,Arnaldo Camuffo,Alessandro Cordova. DP12421 A Scientific Approach to Entrepreneurial Decision-Making: Evidence from a Randomized Control Trial. 2017.