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On the entrepreneurial genesis of new markets: effectual transformations versus causal search and selection

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  • Nicholas Dew

    ()

  • Stuart Read

    ()

  • Saras Sarasvathy

    ()

  • Robert Wiltbank

    ()

Abstract

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Suggested Citation

  • Nicholas Dew & Stuart Read & Saras Sarasvathy & Robert Wiltbank, 2011. "On the entrepreneurial genesis of new markets: effectual transformations versus causal search and selection," Journal of Evolutionary Economics, Springer, vol. 21(2), pages 231-253, May.
  • Handle: RePEc:spr:joevec:v:21:y:2011:i:2:p:231-253
    DOI: 10.1007/s00191-010-0185-1
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    References listed on IDEAS

    as
    1. Sidney Winter & Yuri Kaniovski & Giovanni Dosi, 2003. "A baseline model of industry evolution," Journal of Evolutionary Economics, Springer, vol. 13(4), pages 355-383, October.
    2. Sarasvathy, D. K. & Simon, Herbert A. & Lave, Lester, 1998. "Perceiving and managing business risks: differences between entrepreneurs and bankers," Journal of Economic Behavior & Organization, Elsevier, vol. 33(2), pages 207-225, January.
    3. Jacob Goldenberg & Donald R. Lehmann & David Mazursky, 2001. "The Idea Itself and the Circumstances of Its Emergence as Predictors of New Product Success," Management Science, INFORMS, vol. 47(1), pages 69-84, January.
    4. Bala, Venkatesh & Goyal, Sanjeev, 1994. "The Birth of a New Market," Economic Journal, Royal Economic Society, vol. 104(423), pages 282-290, March.
    5. Fagiolo, Giorgio & Dosi, Giovanni, 2003. "Exploitation, exploration and innovation in a model of endogenous growth with locally interacting agents," Structural Change and Economic Dynamics, Elsevier, vol. 14(3), pages 237-273, September.
    6. Ulrich Witt, 2003. "Economic policy making in evolutionary perspective," Journal of Evolutionary Economics, Springer, vol. 13(2), pages 77-94, April.
    7. Sydney Winter & Giovanni Dosi, 2000. "Interpreting Economic Change: Evolution, Structures and Games," LEM Papers Series 2000/08, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    8. J. Metcalfe, 2004. "The entrepreneur and the style of modern economics," Journal of Evolutionary Economics, Springer, vol. 14(2), pages 157-175, June.
    9. Hattwick, Richard E., 1979. "Perception, opportunity and profit : Studies in the Theory of Entrepreneurship. By Israel M. Kirzner. Chicago: The University of Chicago Press, 1980. Pp. 239. Price: $15.00," Journal of Behavioral Economics, Elsevier, vol. 8(2), pages 183-188.
    10. François Moreau, 2004. "The role of the state in evolutionary economics," Cambridge Journal of Economics, Oxford University Press, vol. 28(6), pages 847-874, November.
    11. Dosi, Giovanni, 1997. "Opportunities, Incentives and the Collective Patterns of Technological Change," Economic Journal, Royal Economic Society, vol. 107(444), pages 1530-1547, September.
    12. Bettman, James R & Sujan, Mita, 1987. " Effects of Framing on Evaluation of Comparable and Noncomparable Alternatives by Expert and Novice Consumers," Journal of Consumer Research, Oxford University Press, vol. 14(2), pages 141-154, September.
    13. Nicholas Dew & S. Sarasvathy & S. Venkataraman, 2004. "The economic implications of exaptation," Journal of Evolutionary Economics, Springer, vol. 14(1), pages 69-84, January.
    14. Mowery, David & Rosenberg, Nathan, 1993. "The influence of market demand upon innovation: A critical review of some recent empirical studies," Research Policy, Elsevier, vol. 22(2), pages 107-108, April.
    15. Martin L. Weitzman, 1998. "Recombinant Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 113(2), pages 331-360.
    16. Klepper, Steven & Simons, Kenneth L, 1997. "Technological Extinctions of Industrial Firms: An Inquiry into Their Nature and Causes," Industrial and Corporate Change, Oxford University Press, vol. 6(2), pages 379-460, March.
    17. Saras Sarasvathy & Nicholas Dew, 2005. "New market creation through transformation," Journal of Evolutionary Economics, Springer, vol. 15(5), pages 533-565, November.
    18. George J. Stigler, 1961. "The Economics of Information," Journal of Political Economy, University of Chicago Press, vol. 69, pages 213-213.
    19. Paul M. Romer, 1994. "The Origins of Endogenous Growth," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 3-22, Winter.
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    Citations

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    Cited by:

    1. Oladapo Rasul & Festus Victor Bekun & Seyi Saint Akadiri, 2017. "The Impact of Self-efficacy on International Student Entrepreneur Intention," International Review of Management and Marketing, Econjournals, vol. 7(1), pages 169-174.
    2. Shirokova, G. V. & Bogatyreva, K. A. & Morris, M. H., 2014. "Expertise, university Infrastructure and cognitive logic: Assessing students who start ventures," Working Papers 6253, Graduate School of Management, St. Petersburg State University.
    3. Lichtenstein Benyamin, 2016. "Emergence and Emergents in Entrepreneurship: Complexity Science Insights into New Venture Creation," Entrepreneurship Research Journal, De Gruyter, vol. 6(1), pages 43-52, January.
    4. repec:wsi:jecxxx:v:25:y:2017:i:02:n:s0218495817500054 is not listed on IDEAS
    5. Dorado, Silvia & Ventresca, Marc J., 2013. "Crescive entrepreneurship in complex social problems: Institutional conditions for entrepreneurial engagement," Journal of Business Venturing, Elsevier, vol. 28(1), pages 69-82.
    6. Pavel Kuchař, 2016. "Entrepreneurship and institutional change," Journal of Evolutionary Economics, Springer, vol. 26(2), pages 349-379, May.
    7. Hawkins, Richard & Langford, Cooper H. & Saunders, Chad, 2015. "Assessing the practical application of social knowledge: A survey of six leading Canadian Universities," Research Policy, Elsevier, vol. 44(1), pages 83-95.
    8. repec:spr:manint:v:55:y:2015:i:5:d:10.1007_s11575-015-0251-x is not listed on IDEAS
    9. Giovanni Bonifati, 2013. "Exaptation and emerging degeneracy in innovation processes," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(1), pages 1-21, January.
    10. Magdalena Meusburger & Alexander Josef Antonites, 2016. "Assessing Antecedents Of Entrepreneurial Activities Of Academics At South African Universities," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(06), pages 1-39, August.
    11. Parida, Vinit & George, Nerine Mary & Lahti, Tom & Wincent, Joakim, 2016. "Influence of subjective interpretation, causation, and effectuation on initial venture sale," Journal of Business Research, Elsevier, vol. 69(11), pages 4815-4819.

    More about this item

    Keywords

    Entrepreneurship; Transformation; Industrial dynamics; New market creation; D4; D52; D71; D72; L1; L2; M13; M31; P42;

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • P42 - Economic Systems - - Other Economic Systems - - - Productive Enterprises; Factor and Product Markets; Prices

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