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2009 | OriginalPaper | Buchkapitel

12. Perceptions of Efficacy, Control, and Risk: A Theory of Mixed Control

verfasst von : Erik Monsen, Diemo Urbig

Erschienen in: Understanding the Entrepreneurial Mind

Verlag: Springer New York

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Abstract

Entrepreneurship involves the establishment of new organizations and the development of new economic activities. Its consequences have not been experienced before and thus are rife with risk and uncertainty. Those who engage in such activities have consequently been considered as being willing to take on more risk and uncertainty than others. Empirical work, however, has demonstrated that entrepreneurs are not willing to take more risks than non-entrepreneurs (Busenitz and Barney 1997; Miner and Raju 2004; Palich and Bagby 1995; Wu and Knott 2006). Therefore, a corresponding difference in general risk propensity hypothesis is not supported by research findings. Alternatively, a difference in risk perception hypothesis has been suggested. In other words, even if entrepreneurs and non-entrepreneurs have similar risk preferences, entrepreneurs may perceive less risk by overestimating their chances for success (Baron 1998).

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Vorheriges Kapitel Self-Efficacy: Conditioning the Entrepreneurial Mindset

Nächstes Kapitel Entrepreneurial Decision-Making: Thinking Under Uncertainty

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Titel: Perceptions of Efficacy, Control, and Risk: A Theory of Mixed Control
verfasst von: Erik Monsen
Diemo Urbig
Verlag: Springer New York
Buch: Understanding the Entrepreneurial Mind
Print ISBN: 978-1-4419-0442-3

Electronic ISBN: 978-1-4419-0443-0

Copyright-Jahr: 2009
DOI: https://doi.org/10.1007/978-1-4419-0443-0_12

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