Entrepreneurial team's risk-based decision-making: A dynamic game analysis
It is well-known that some cognitive factors such as opportunity perception and risk perception influence entrepreneurial risk-based decision-making (RBDM). This paper proposes some rules of entrepreneur's risk decision-learning to address this RBDM taking cognitive factors into consideration. The learning mechanisms of entrepreneurial team's RBDM is derived based on entrepreneur's perception evolution. The paper employs a system dynamics model to analyze the entrepreneurial team's risk decision-learning. A case study is conducted to demonstrate the entrepreneurial RBDM process with cognitive factors.
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- Harper, David A., 2008. "Towards a theory of entrepreneurial teams," Journal of Business Venturing, Elsevier, vol. 23(6), pages 613-626, November.
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