Abstract
Scholars have identified four different roles played by aspiring entrepreneurs in the discovery of venture opportunities. Entrepreneurs may not know it yet but one way for them to prosper would be to discover their own opportunities by being successful in one of these roles. What each of these roles has in common is that the discovery process consists of the acquisition of specific, risk-reducing information. Uncertain returns from such investments may deter them from making discoveries.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Alvarez, S., & Barney, J. (2007). Discovery and Creation: Alternative Theories of Entrepreneurial Action. Strategic Entrepreneurship Journal, 1, 11–26.
Arrow, K. (1989). Economics of Information, Public Lecture, Reproduced in First Report Up to March 1989. Indira Gandhi Institute of Development Research.
Barney, J. (1986a). Strategic Factor Markets: Expectations, Luck and Business Strategy’. Management Science, 10, 1231–1241.
Barney, J. (1986b). Organizational Culture: Can It Be a Source of Sustained Competitive Advantage?’. Academy of Management Review, 11, 656–665.
Baudeau, N. (1767/1910). In Dubois, A. (Ed.), Premier Introduction a La Philosophic Economique.
Beck, A. (1962). Reliability of Psychiatric Diagnoses: A Critique of Systematic Studies. American Journal of Psychiatry, 119, 210–216.
Bentham, J. (1952). In Stark, W. (Ed.), Jeremy Bentham’s Economic Writings. Allen and Unwin.
Bird, B. (1988). Implementing Entrepreneurial Ideas: The Case for Intention. Academy of Management Review, 13(3), 442–453.
Bollen, K. (1989). Structural Equations with Latent Variables. Wiley.
Bonoma, T. (1984). Managing Marketing: Text, Cases and Readings. Free Press.
Brockhaus, R. H. (1980). Risk Taking Propensity of Entrepreneurs. Academy of Management Journal, 23, 509–520. https://doi.org/10.2307/255515
Burt, R. (1976). Interpretational Confounding of Unobserved Variables in Structural Equation Modes. Sociological Methods & Research, 5(1), 3–52.
Burt, R. (1982). Toward a Structural Theory of Action. Academic Press.
Burt, R. (1995). Structural Holes: The Social Structure of Competition. Harvard University Press.
Burt, R. (2004). Structural Holes and Good Ideas. American Journal of Sociology, 110(2), 349–399.
Camerer, C. (1985). Redirecting Research in Business Policy and Strategy. Strategic Management Journal, 6, 1–15.
Cantillon, R. (1755/1931). In Higgs, H. (Ed. and Trans.), Essai Sur la Nature du Commerce en General. Macmillan.
Carland, J., Hoy, F., Boulton, W., & Carland, J. (1984). Differentiating Entrepreneurs from Small Business Owners: A Conceptualization. Academy of Management Review, 9(2), 357.
Casson, M. (1990). The Market for Information. Edward Elgar Publishing Co.
Cole, A. (1946). An Approach to the Study of Entrepreneurship: A Tribute to Edwin F. Gay. Journal of Economic History, 6, 1–15.
Copeland, T., & Weston, J. (1988). Financial Theory and Corporate Policy (3rd ed.). Addison Wesley.
Davidsson, P. (2021). Ditching Discovery-Creation for Unified Venture Creation Research. Entrepreneurship Theory and Practice. https://doi.org/10.1177/10422587211030870
Dimov, D. (2011). Grappling with the Unbearable Elusiveness of Entrepreneurial Opportunities. Entrepreneurship Theory and Practice, 35, 57–81.
Easterbrook, W. (1949). Possibilities for a Realistic Theory of Entrepreneurship: The Climate for Enterprise. American Economic Review, XXXXIV(3), pp. 322–335.
Fama, E. (1970). Efficient Capital Markets: A Review of Theory and Empirical Work. The Journal of Finance, 25(2), 383–417.
Fiet, J. (1991a). Managing Investments in Specific Information: A Comparison of Business Angels and Venture Capital Firms. Unpublished Doctoral Dissertation, Texas A&M University.
Fiet, J. (1991b). Managing Investments in Specific Information: A Comparison of Business Angels and Venture Capital Firms [Dissertation]. Texas A&M University.
Fiet, J. (1993). Co-Investor Networks as a Basis for Separate Pools of Risk Capital. Paper Presented at the Annual Meeting of the Academy of Management (pp. 4–6).
Fiet, J. (1996). The Informational Basis of Entrepreneurial Discovery. Small Business Economics Journal, 8(6), 419–430.
Fiet, J. (2002). The Systematic Search for Entrepreneurial Discoveries. Quorum Books.
Fiet, J. (2007). A Prescriptive Analysis of Search and Discovery. Journal of Management Studies, 44(4), 592–611.
Fiet, J. (2008). Prescriptive Entrepreneurship. Edward Elgar Publishing.
Fiet, J. (2020). Time, Space and Entrepreneurship. Routledge Studies in Entrepreneurship. Routledge Press.
Fiet, J. (2022, March). The Theoretical World of Entrepreneurship. Edward Elgar.
Fiet, J., & Hellriegel, D. (1995). Post Contractual Safeguards Against Venture Capital Risk. Entrepreneurship, Innovation & Change, 4(1), 23–42.
Fiet, J., & Kosnik, R. (1995). Antecedents of Executive Compensation: The Use of Covariance Structure Modeling. Journal of Managerial Finance, 21(2), 44–59.
Fischhoff, B., Watson, S., & Hope, C. (1984). Defining Risk. Policy Science, 17, 123–139.
Granovetter, M. (1978). The Strength of Weak Ties. American Journal of Sociology, 78(6), 1360–1380.
Hayek, F. (1945). The Use of Knowledge in Society. American Economic Review, 35, 519–530.
Hebert, R., & Link, A. (1982). The Entrepreneur. Praeger Publishers.
Intriligator, M. (Ed.). (1971). Frontiers of Quantitative Research (pp. 32–107). North-Holland Publishing Co.
Itami, H., & Roehl, T. (1987). Mobilizing Invisible Assets. Harvard University Press.
Jacobson, R. (1992). The “Austrian” School of Strategy. Academy of Management Review, 17(4), 782–807.
Kirchoff, B. (1991). Entrepreneurship’s Contribution to Economics. Entrepreneurship Theory and Practice, 16(Winter), pp. 93–112.
Kirzner, I. (1973). Competition and Entrepreneurship. University of Chicago Press.
Kirzner, I. (1979). Perception, Opportunity and Profit: Studies in the Theory of Entrepreneurship. University of Chicago Press.
Kirzner, I. (2009). The Alert and Creative Entrepreneur: A Clarification. Small Business Economics, 32, 145–152.
Klein, B., Crawford, R., & Alchian, A. (1978). Vertical Integration Appropriable Rents and the Competitive Contracting Process. Journal of Law and Economics, 21, 297–326.
Knight, F. H. (1933). Risk, Uncertainty and Profit. Reprint No. 16. School of Economics and Political Science.
Loehlin, J. (1987). Latent Variable Models: An Introduction to Factor, Path and Structural Analysis. Lawrnce Erlbaum.
Lorenzoni, G., & Ornati, O. (1988). Constellations of Firms and New Ventures. Journal of Business Venturing, 3(1), 41–57.
Maltz, M. (1960). Psycho-Cybernetics. Simon & Schuster.
Mancuso, J. (1975). The Entrepreneurs Quiz. In C. Baumback, & J. Mancuso, (Eds.), Entrepreneurship and Venture Management. Prentice Hall.
March, J., & Shapira, Z. (1987). Managerial Perspectives on Risk and Risk Taking, Management Science, 33, 1404–1418.
Marshall, A. (1961). Principles of Economics. Macmillan for the Royal Economic Society.
McClelland, D. (1961). The Achieving Society (p. 226). Van Nostrand.
Mises, L. (1939). Human Action: A Treatise on Economics. Yale University Press.
Platt, J. (1964). Strong Inference. Science, 146, 347–353.
Poindexter, J. (1975). The Efficiency of Financial Markets: The Venture Capital Case [Dissertation]. New York University.
Rumelt, R. (1987). Theory, Strategy and Entrepreneurship. In D. Teece (Ed.), The Competitive Challenge: Strategies for Industrial Innovation and Renewal (pp. 137–158). Ballinger.
Schumpeter, J. (1936). The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest and the Business Cycle. Harvard University Press.
Schumpeter, J. (1939). Business Cycles. McGraw-Hill.
Schumpeter, J. (1942). Capitalism, Socialism and Democracy. Harper and Row.
Schumpeter, J. (1947). The Creative Response in Economic History. Journal of Economic History, 7, 149–159.
Schumpeter, J. (1961). The Theory of Economic Development. Oxford University Press.
Schumpeter, J. (1971). The Fundamental Phenomenon of Economic Development. In P. Kilby (Ed.), Entrepreneurship and Economic Development (pp. 43–70). The Free Press.
Shackle, G. (1955). Uncertainty in Economics. University Press.
Shane, S. (2000). Prior Knowledge and the Discovery of Entrepreneurial Opportunities. Organization Science, 11(4), 448–469.
Smith, A. (1776/1965). The Wealth of Nations. New York: Random House/Modern Library Edition.
Walras, L. (1874). Elements of Pure Economics. Routledge.
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2023 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Fiet, J.O. (2023). Informational Entrepreneurship. In: Informational Entrepreneurship in a World with Limited Insight. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-16532-0_3
Download citation
DOI: https://doi.org/10.1007/978-3-031-16532-0_3
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-031-16531-3
Online ISBN: 978-3-031-16532-0
eBook Packages: Business and ManagementBusiness and Management (R0)