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Entrepreneurs’ Exploratory Perseverance in Learning Settings

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  • Katrin Muehlfeld
  • Diemo Urbig
  • Utz Weitzel

Abstract

We introduce “exploratory perseverance†as a novel construct that captures perseverant behavior in settings in which several alternatives can be explored and evaluated. We suggest that entrepreneurs display exploratory perseverance reflected by a tendency to keep exploring broader sets of alternatives, to adopt a parallel rather than sequential approach to trial†and†error learning, and, after negative experiences with some alternatives, to be more inclined to give them a second chance. The results from an experimental study of 449 individuals participating in the Iowa Gambling Task indicate that more entrepreneurially experienced individuals display greater exploratory perseverance than those with little to no entrepreneurial experience.

Suggested Citation

  • Katrin Muehlfeld & Diemo Urbig & Utz Weitzel, 2017. "Entrepreneurs’ Exploratory Perseverance in Learning Settings," Entrepreneurship Theory and Practice, , vol. 41(4), pages 533-565, July.
    • Handle: RePEc:sae:entthe:v:41:y:2017:i:4:p:533-565
    DOI: 10.1111/etp.12224
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    2. Spanjer, Anne, 2017. "The impact of experience on the behavior and performance of self-employed and entrepreneurs. Three empirical studies," Other publications TiSEM 6684507a-1de9-47b5-9da7-3, Tilburg University, School of Economics and Management.
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