Entrepreneurs’ Exploratory Perseverance in Learning Settings

Entrepreneurship, Theory & Practice, Forthcoming

54 Pages Posted: 22 Nov 2015

See all articles by Katrin Muehlfeld

Katrin Muehlfeld

University of Trier - Faculty of Management; Utrecht University - Utrecht University School of Economics

Diemo Urbig

University of Wuppertal

Utz Weitzel

Utrecht University - Utrecht University School of Economics; Radboud University - Economics Department, IMR

Multiple version iconThere are 2 versions of this paper

Date Written: November 20, 2015

Abstract

We introduce ‘exploratory perseverance’ as a novel construct that captures perseverant behavior in settings in which several alternatives can be explored and evaluated. We suggest that entrepreneurs display exploratory perseverance reflected by a tendency to keep exploring broader sets of alternatives, to adopt a parallel rather than sequential approach to trial-and-error learning, and, after negative experiences with some alternatives, to be more inclined to give them a second chance. The results from an experimental study of 449 individuals participating in the Iowa Gambling Task indicate that more entrepreneurially experienced individuals display greater exploratory perseverance than those with little to no entrepreneurial experience.

Keywords: Perseverance; Entrepreneurial cognition; Exploration; Iowa Gambling Task

Suggested Citation

Muehlfeld, Katrin and Urbig, Diemo and Weitzel, Utz, Entrepreneurs’ Exploratory Perseverance in Learning Settings (November 20, 2015). Entrepreneurship, Theory & Practice, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2693702

Katrin Muehlfeld

University of Trier - Faculty of Management ( email )

Germany

Utrecht University - Utrecht University School of Economics ( email )

Kriekenpitplein 21-22
Adam Smith Building
Utrecht, +31 30 253 7373 3584 EC
Netherlands

Diemo Urbig

University of Wuppertal ( email )

Gaussstr. 20
Wuppertal, 42119
Germany

Utz Weitzel (Contact Author)

Utrecht University - Utrecht University School of Economics ( email )

Kriekenpitplein 21-22
Adam Smith Building
Utrecht, 3584 EC
Netherlands

Radboud University - Economics Department, IMR ( email )

Nijmegen, 6500 HK
Netherlands

Register to save articles to
your library

Register

Paper statistics

Downloads
26
Abstract Views
333
PlumX Metrics