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Escaping the green prison: Entrepreneurship and the creation of opportunities for sustainable development

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  • Pacheco, Desirée F.
  • Dean, Thomas J.
  • Payne, David S.
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    Abstract

    While entrepreneurial activity has been an important force for social and ecological sustainability; its efficacy is dependent upon the nature of market incentives. This limitation is sometimes explained by the metaphor of the prisoner's dilemma, which we term the green prison. In this prison, entrepreneurs are compelled to environmentally degrading behavior due to the divergence between individual rewards and collective goals for sustainable development. Entrepreneurs, however, can escape from the green prison by altering or creating the institutions--norms, property rights, and legislation--that establish the incentives of competitive games. We provide a variety of evidence of such entrepreneurial action and discuss its implications for theory and practice.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Business Venturing.

    Volume (Year): 25 (2010)
    Issue (Month): 5 (September)
    Pages: 464-480

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    Handle: RePEc:eee:jbvent:v:25:y:2010:i:5:p:464-480

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    Web page: http://www.elsevier.com/locate/jbusvent

    Related research

    Keywords: Sustainable development Institutional economics Prisoner' s dilemma Sustainable entrepreneurship Creation entrepreneurship;

    References

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    Cited by:
    1. Hall, Jeremy K. & Daneke, Gregory A. & Lenox, Michael J., 2010. "Sustainable development and entrepreneurship: Past contributions and future directions," Journal of Business Venturing, Elsevier, vol. 25(5), pages 439-448, September.

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