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Toward a theory of affordable loss

Toward a theory of affordable loss

Samenvatting

Although dozens of empirical studies have been published on effectuation as a whole, much work remains to be done on elaborating each principle in more depth. Based on an exploratory study of seven ventures from the Caribbean island of Curacao, this paper develops an elaborated process model of the affordable loss heuristic in effectuation. The model breaks affordable loss into two components—ability and willingness, and connects these to the concept of loss aversion from prospect theory. Furthermore, these components are encapsulated in a process involving identity, affect, and resourcefulness leading to the entry-stage entrepreneurial investment decision.

OrganisatieHogeschool van Amsterdam
AfdelingKenniscentrum CAREM
LectoraatLectoraat Ondernemerschap
Gepubliceerd inSmall Business Economics, An Entrepreneurship Journal Springer, Vol. 54, Uitgave: 3, Pagina's: 751-774
Datum2020-03-01
TypeArtikel
ISSN0921-898X
DOI10.1007/s11187-019-00151-y
TaalEngels

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