Prediction and Control: An Agent-Based Simulation of the Entrepreneurial Problem Space

49 Pages Posted: 14 Apr 2017

See all articles by Rene Mauer

Rene Mauer

ESCP Europe

Robert Wuebker

University of Utah - David Eccles School of Business; University of St. Gallen

Jan Schlueter

RWTH Aachen University

Malte Brettel

Aachen University of Technology (RWTH)

Date Written: April 11, 2017

Abstract

This study seeks to understand the boundary conditions and successful application of search processes in the entrepreneurial problem space. To this end, we employ an agent-based simulation approach to formally investigate the influence of environmental isotropy, unpredictability, and goal ambiguity on two distinct search processes, one prediction-based and one control-based. Specifically, we investigate the performance of effectuation as an example of non-predictive, control-based search and causation as an example of prediction-based search. Results enhance theory by revealing a more nuanced relationship between the environment and entrepreneurial search than previous conceptual and empirical work has suggested.

Keywords: Prediction, Control, Agent-Based Simulation, Entrepreneurial Problem Space, Effectuation

Suggested Citation

Mauer, Rene and Wuebker, Robert and Schlueter, Jan and Brettel, Malte, Prediction and Control: An Agent-Based Simulation of the Entrepreneurial Problem Space (April 11, 2017). Available at SSRN: https://ssrn.com/abstract=2951422 or http://dx.doi.org/10.2139/ssrn.2951422

Rene Mauer (Contact Author)

ESCP Europe ( email )

Heubnerweg 8-10
Berlin, 14059
Germany

Robert Wuebker

University of Utah - David Eccles School of Business ( email )

1645 East Campus Circle Drive
Salt Lake City, UT 84112-9304
United States

University of St. Gallen ( email )

Bodanstrasse 8
SIAW-HSG
St.Gallen, 9000
Switzerland

Jan Schlueter

RWTH Aachen University ( email )

Templergraben 55
52056 Aachen, 52056
Germany

Malte Brettel

Aachen University of Technology (RWTH) ( email )

Templergraben 64
52056 Aachen, 52056
Germany
0049 241 80 96148 (Phone)

HOME PAGE: http://www.win.rwth-aachen.de

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