Dynamics, Experimental Economics, and Entrepreneurship

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