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Dynamics, Experimental Economics, and Entrepreneurship


  • Christian Schade



Economic experiments are introduced and proposed as the methodology of choice for a subset of research questions in technological entrepreneurship, an approach that has not yet been used in this field. Moreover, we provide an entrepreneurship-specific framework that matches types of research questions and feasible empirical methods. For example, a very dynamic environment is seen as a threat to most field studies, whereas the need to have entrepreneurs or other practitioners as subjects is almost a criterion for preclusion in economic experiments. The design of a recent economic experiment dealing with the timing of exploitation of an R&D based opportunity is explained and analyzed. We finally discuss the applicability of economic experiments to entrepreneurship questions in technology transfer. Copyright Springer Science+Business Media, Inc. 2005

Suggested Citation

  • Christian Schade, 2005. "Dynamics, Experimental Economics, and Entrepreneurship," The Journal of Technology Transfer, Springer, vol. 30(4), pages 409-431, October.
  • Handle: RePEc:kap:jtecht:v:30:y:2005:i:4:p:409-431
    DOI: 10.1007/s10961-005-2585-1

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    References listed on IDEAS

    1. Werner Güth & Carsten Schmidt & Matthias Sutter, 2007. "Bargaining outside the lab - a newspaper experiment of a three-person ultimatum game," Economic Journal, Royal Economic Society, vol. 117(518), pages 449-469, March.
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    Cited by:

    1. Schade, Christian, 2010. "Entrepreneurial decision making: A paradigm rather than a set of questions: Introduction to special section based on Lally-Darden-Humboldt Young Entrepreneurship Scholars' Retreat 2006," Journal of Business Venturing, Elsevier, vol. 25(2), pages 173-174, March.
    2. A. Alventosa & Y. Gómez & V. Martínez-Molés & J. Vila, 2016. "Location and Innovation Optimism: a Behavioral-Experimental Approach," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 7(4), pages 890-904, December.
    3. Urbig, Diemo & Weitzel, Utz & Rosenkranz, Stephanie & Witteloostuijn, Arjen van, 2012. "Exploiting opportunities at all cost? Entrepreneurial intent and externalities," Journal of Economic Psychology, Elsevier, vol. 33(2), pages 379-393.
    4. Burmeister, Katrin & Schade, Christian, 2007. "Are entrepreneurs' decisions more biased? An experimental investigation of the susceptibility to status quo bias," Journal of Business Venturing, Elsevier, vol. 22(3), pages 340-362, May.
    5. Elston, Julie Ann & Audretsch, David B., 2010. "Risk attitudes, wealth and sources of entrepreneurial start-up capital," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 82-89, October.
    6. Patel, Pankaj C. & Fiet, James O., 2010. "Enhancing the internal validity of entrepreneurship experiments by assessing treatment effects at multiple levels across multiple trials," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 127-140, October.

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