IDEAS home Printed from https://ideas.repec.org/p/zbw/ifmwps/0218.html
   My bibliography  Save this paper

Brain-driven entrepreneurship research: Expanded review and research agenda towards entrepreneurial enhancement

Author

Listed:
  • Pérez-Centeno, Victor

Abstract

The advent of significant advances in neuroscience has produced the capacity to examine the human brain at a profound level, yet the academic and practical value of existing evidence based on neuroscience techniques and methods within the field of entrepreneurship remains unexplored. To address these issues, the author draws from entrepreneurship research and presents a braindriven approach as a basis for future in-depth studies on the role of cognitive, affective, motivational and hormonal mechanisms in entrepreneurship theory and practice. To further articulate a research agenda, the author reviews the state of knowledge of existing evidence by content analysis of articles published until 2016. The analysed articles incorporate the use of a brain-driven research perspective in their studies. It is found that although neuroscience affords unique technological opportunities, few studies have thus far benefited from these advances, and among existing studies, only the topic of entrepreneurial decision-making has been partially covered. Building on these observations, the author proposes a definition of brain-driven entrepreneurship research and a research agenda to advance the integration of neuroscience tools and technologies in entrepreneurship research.

Suggested Citation

  • Pérez-Centeno, Victor, 2018. "Brain-driven entrepreneurship research: Expanded review and research agenda towards entrepreneurial enhancement," Working Papers 02/18, Institut für Mittelstandsforschung (IfM) Bonn.
  • Handle: RePEc:zbw:ifmwps:0218
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/179282/1/1023168421.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. J. Brock Smith & J. Robert Mitchell & Ronald K. Mitchell, 2009. "Entrepreneurial Scripts and the New Transaction Commitment Mindset: Extending the Expert Information Processing Theory Approach to Entrepreneurial Cognition Research," Entrepreneurship Theory and Practice, , vol. 33(4), pages 815-844, July.
    2. Ardichvili, Alexander & Cardozo, Richard & Ray, Sourav, 2003. "A theory of entrepreneurial opportunity identification and development," Journal of Business Venturing, Elsevier, vol. 18(1), pages 105-123, January.
    3. Marco Caliendo & Alexander Kritikos, 2010. "Start-ups by the unemployed: characteristics, survival and direct employment effects," Small Business Economics, Springer, vol. 35(1), pages 71-92, July.
    4. Naudé, Wim, 2011. "Entrepreneurship is Not a Binding Constraint on Growth and Development in the Poorest Countries," World Development, Elsevier, vol. 39(1), pages 33-44, January.
    5. Ronald K. Mitchell & Lowell W. Busenitz & Barbara Bird & Connie Marie Gaglio & Jeffery S. McMullen & Eric A. Morse & J. Brock Smith, 2007. "The Central Question in Entrepreneurial Cognition Research 2007," Entrepreneurship Theory and Practice, , vol. 31(1), pages 1-27, January.
    6. Dietmar Grichnik & Alexander Smeja & Isabell Welpe, 2010. "The Importance of Being Emotional: How do Emotions Affect Entrepreneurial Opportunity Evaluation and Exploitation?," Post-Print hal-00856603, HAL.
    7. Gatewood, Elizabeth J. & Shaver, Kelly G. & Gartner, William B., 1995. "A longitudinal study of cognitive factors influencing start-up behaviors and success at venture creation," Journal of Business Venturing, Elsevier, vol. 10(5), pages 371-391, September.
    8. Zahra, Shaker A., 2007. "Contextualizing theory building in entrepreneurship research," Journal of Business Venturing, Elsevier, vol. 22(3), pages 443-452, May.
    9. Schade, Christian & Burmeister-Lamp, Katrin, 2009. "Experiments on Entrepreneurial Decision Making: A Different Lens Through Which to Look at Entrepreneurship," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 5(2), pages 81-134, March.
    10. Ronald K. Mitchell & Lowell Busenitz & Theresa Lant & Patricia P. McDougall & Eric A. Morse & J. Brock Smith, 2004. "The Distinctive and Inclusive Domain of Entrepreneurial Cognition Research," Entrepreneurship Theory and Practice, , vol. 28(6), pages 505-518, November.
    11. Palich, Leslie E. & Ray Bagby, D., 1995. "Using cognitive theory to explain entrepreneurial risk-taking: Challenging conventional wisdom," Journal of Business Venturing, Elsevier, vol. 10(6), pages 425-438, November.
    12. Cooper, Arnold C. & Woo, Carolyn Y. & Dunkelberg, William C., 1988. "Entrepreneurs' perceived chances for success," Journal of Business Venturing, Elsevier, vol. 3(2), pages 97-108.
    13. Per Davidsson & Johan Wiklund, 2001. "Levels of Analysis in Entrepreneurship Research: Current Research Practice and Suggestions for the Future," Entrepreneurship Theory and Practice, , vol. 25(4), pages 81-100, July.
    14. Editors The, 2008. "From the Editors," Basic Income Studies, De Gruyter, vol. 2(2), pages 1-3, January.
    15. Haynie, J. Michael & Shepherd, Dean & Mosakowski, Elaine & Earley, P. Christopher, 2010. "A situated metacognitive model of the entrepreneurial mindset," Journal of Business Venturing, Elsevier, vol. 25(2), pages 217-229, March.
    16. Mark Sanders, 2007. "Scientific Paradigms, Entrepreneurial Opportunities and Cycles in Economic Growth," Small Business Economics, Springer, vol. 28(4), pages 339-354, April.
    17. J. Robert Mitchell & Paul N. Friga & Ronald K. Mitchell, 2005. "Untangling the Intuition Mess: Intuition as a Construct in Entrepreneurship Research," Entrepreneurship Theory and Practice, , vol. 29(6), pages 653-679, November.
    18. Denis A. Grégoire & Andrew C. Corbett & Jeffery S. McMullen, 2011. "The Cognitive Perspective in Entrepreneurship: An Agenda for Future Research," Journal of Management Studies, Wiley Blackwell, vol. 48, pages 1443-1477, September.
    19. Gaglio, Connie Marie & Katz, Jerome A, 2001. "The Psychological Basis of Opportunity Identification: Entrepreneurial Alertness," Small Business Economics, Springer, vol. 16(2), pages 95-111, March.
    20. Mullins, John W. & Forlani, David, 2005. "Missing the boat or sinking the boat: a study of new venture decision making," Journal of Business Venturing, Elsevier, vol. 20(1), pages 47-69, January.
    21. Chen, Chao C. & Greene, Patricia Gene & Crick, Ann, 1998. "Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?," Journal of Business Venturing, Elsevier, vol. 13(4), pages 295-316, July.
    22. Scott Shane, 2000. "Prior Knowledge and the Discovery of Entrepreneurial Opportunities," Organization Science, INFORMS, vol. 11(4), pages 448-469, August.
    23. Helen Pushkarskaya & Michael Smithson & Xun Liu & Jane E. Joseph, 2010. "Neuroeconomics of Environmental Uncertainty and the Theory of the Firm," Chapters, in: Angela A. Stanton & Mellani Day & Isabell M. Welpe (ed.), Neuroeconomics and the Firm, chapter 1, Edward Elgar Publishing.
    24. Robert A. Baron & Thomas B. Ward, 2004. "Expanding Entrepreneurial Cognition's Toolbox: Potential Contributions from the Field of Cognitive Science," Entrepreneurship Theory and Practice, , vol. 28(6), pages 553-573, November.
    25. Baron, Robert A., 2004. "The cognitive perspective: a valuable tool for answering entrepreneurship's basic "why" questions," Journal of Business Venturing, Elsevier, vol. 19(2), pages 221-239, March.
    26. Grichnik, Dietmar & Smeja, Alexander & Welpe, Isabell, 2010. "The importance of being emotional: How do emotions affect entrepreneurial opportunity evaluation and exploitation?," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 15-29, October.
    27. Anthony Endres & Christine Woods, 2006. "Modern Theories of Entrepreneurial Behavior: A Comparison and Appraisal," Small Business Economics, Springer, vol. 26(2), pages 189-202, March.
    28. Justin J.P. Jansen & Zeki Simsek & Qing Cao, 2012. "Ambidexterity and performance in multiunit contexts: Cross‐level moderating effects of structural and resource attributes," Strategic Management Journal, Wiley Blackwell, vol. 33(11), pages 1286-1303, November.
    29. Robert E. Hoskisson & Jeffrey Covin & Henk W. Volberda & Richard A. Johnson, 2011. "Revitalizing Entrepreneurship: The Search for New Research Opportunities," Journal of Management Studies, Wiley Blackwell, vol. 48, pages 1141-1168, September.
    30. Nikos K. Logothetis, 2008. "What we can do and what we cannot do with fMRI," Nature, Nature, vol. 453(7197), pages 869-878, June.
    31. Breugst, Nicola & Patzelt, Holger & Rathgeber, Philipp, 2015. "How should we divide the pie? Equity distribution and its impact on entrepreneurial teams," Journal of Business Venturing, Elsevier, vol. 30(1), pages 66-94.
    32. Angela A. Stanton & Mellani Day & Isabell M. Welpe (ed.), 2010. "Neuroeconomics and the Firm," Books, Edward Elgar Publishing, number 13502.
    33. Andrew Lawrence & Luke Clark & Jamie Nicole Labuzetta & Barbara Sahakian & Shai Vyakarnum, 2008. "The innovative brain," Nature, Nature, vol. 456(7219), pages 168-169, November.
    34. Baron, Robert A., 2000. "Counterfactual thinking and venture formation: The potential effects of thinking about "what might have been"," Journal of Business Venturing, Elsevier, vol. 15(1), pages 79-91, January.
    35. Lowell W. Busenitz & Chung-Ming Lau, 1996. "A Cross-Cultural Cognitive Model of New Venture Creation," Entrepreneurship Theory and Practice, , vol. 20(4), pages 25-40, July.
    36. Editors The, 2008. "From the Editors," Basic Income Studies, De Gruyter, vol. 3(1), pages 1-1, July.
    37. Nathaniel D. Daw & John P. O'Doherty & Peter Dayan & Ben Seymour & Raymond J. Dolan, 2006. "Cortical substrates for exploratory decisions in humans," Nature, Nature, vol. 441(7095), pages 876-879, June.
    38. Rajagopal, 2014. "The Entrepreneurial Mindset," Palgrave Macmillan Books, in: Architecting Enterprise, chapter 2, pages 31-57, Palgrave Macmillan.
    39. Sylvain Charron & Armin Fuchs & Olivier Oullier, 2008. "Exploring brain activity in neuroeconomics," Revue d'économie politique, Dalloz, vol. 118(1), pages 97-124.
    40. Christian Schade, 2005. "Dynamics, Experimental Economics, and Entrepreneurship," The Journal of Technology Transfer, Springer, vol. 30(4), pages 409-431, October.
    41. 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.
    42. Busenitz, Lowell W. & Barney, Jay B., 1997. "Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making," Journal of Business Venturing, Elsevier, vol. 12(1), pages 9-30, January.
    43. Baron, Robert A., 1998. "Cognitive mechanisms in entrepreneurship: why and when enterpreneurs think differently than other people," Journal of Business Venturing, Elsevier, vol. 13(4), pages 275-294, July.
    44. Angela A. Stanton & Isabell M. Welpe, 2010. "Risk and Ambiguity: Entrepreneurial Research from the Perspective of Economics," Chapters, in: Angela A. Stanton & Mellani Day & Isabell M. Welpe (ed.), Neuroeconomics and the Firm, chapter 2, Edward Elgar Publishing.
    45. Simon, Mark & Houghton, Susan M. & Aquino, Karl, 2000. "Cognitive biases, risk perception, and venture formation: How individuals decide to start companies," Journal of Business Venturing, Elsevier, vol. 15(2), pages 113-134, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jeffery S. McMullen & Katrina M. Brownell & Joel Adams, 2021. "What Makes an Entrepreneurship Study Entrepreneurial? Toward A Unified Theory of Entrepreneurial Agency," Entrepreneurship Theory and Practice, , vol. 45(5), pages 1197-1238, September.
    2. Frederiks, Arjan J. & Englis, Basil G. & Ehrenhard, Michel L. & Groen, Aard J., 2019. "Entrepreneurial cognition and the quality of new venture ideas: An experimental approach to comparing future-oriented cognitive processes," Journal of Business Venturing, Elsevier, vol. 34(2), pages 327-347.
    3. Dietmar Grichnik & Alexander Smeja & Isabell Welpe, 2010. "The Importance of Being Emotional: How do Emotions Affect Entrepreneurial Opportunity Evaluation and Exploitation?," Post-Print hal-00856603, HAL.
    4. Sara Sassetti & Giacomo Marzi & Vincenzo Cavaliere & Cristiano Ciappei, 2018. "Entrepreneurial cognition and socially situated approach: a systematic and bibliometric analysis," Scientometrics, Springer;Akadémiai Kiadó, vol. 116(3), pages 1675-1718, September.
    5. Dheer, Ratan J.S. & Castrogiovanni, Gary J., 2023. "Cognitive adaptability’s impact on entrepreneurial intent: The mediating roles of entrepreneurial passion and efficacy," Journal of Business Research, Elsevier, vol. 160(C).
    6. Grichnik, Dietmar & Smeja, Alexander & Welpe, Isabell, 2010. "The importance of being emotional: How do emotions affect entrepreneurial opportunity evaluation and exploitation?," Journal of Economic Behavior & Organization, Elsevier, vol. 76(1), pages 15-29, October.
    7. Magdalena Markowska & Dietmar Grichnik & Jan Brinckmann & Diana Kapsa, 2019. "Strategic orientations of nascent entrepreneurs: antecedents of prediction and risk orientation," Small Business Economics, Springer, vol. 53(4), pages 859-878, December.
    8. Curt B. Moore & Nancy H. McIntyre & Stephen E. Lanivich, 2021. "ADHD-Related Neurodiversity and the Entrepreneurial Mindset," Entrepreneurship Theory and Practice, , vol. 45(1), pages 64-91, January.
    9. James C. Hayton & Magdalena Cholakova, 2012. "The Role of Affect in the Creation and Intentional Pursuit of Entrepreneurial Ideas," Entrepreneurship Theory and Practice, , vol. 36(1), pages 41-67, January.
    10. Matthew S. Wood & David W. Williams, 2014. "Opportunity Evaluation as Rule-Based Decision Making," Journal of Management Studies, Wiley Blackwell, vol. 51(4), pages 573-602, June.
    11. Andranik Tumasjan & Isabell Welpe & Matthias Spörrle, 2013. "Easy Now, Desirable Later: The Moderating Role of Temporal Distance in Opportunity Evaluation and Exploitation," Entrepreneurship Theory and Practice, , vol. 37(4), pages 859-888, July.
    12. Erik Lundmark & Anna Krzeminska & Dean A. Shepherd, 2019. "Images of Entrepreneurship: Exploring Root Metaphors and Expanding Upon Them," Entrepreneurship Theory and Practice, , vol. 43(1), pages 138-170, January.
    13. Prandelli, Emanuela & Pasquini, Martina & Verona, Gianmario, 2016. "In user's shoes: An experimental design on the role of perspective taking in discovering entrepreneurial opportunities," Journal of Business Venturing, Elsevier, vol. 31(3), pages 287-301.
    14. Tumasjan, Andranik & Braun, Reiner, 2012. "In the eye of the beholder: How regulatory focus and self-efficacy interact in influencing opportunity recognition," Journal of Business Venturing, Elsevier, vol. 27(6), pages 622-636.
    15. Isabell M. Welpe & Matthias Spörrle & Dietmar Grichnik & Theresa Michl & David B. Audretsch, 2012. "Emotions and Opportunities: The Interplay of Opportunity Evaluation, Fear, Joy, and Anger as Antecedent of Entrepreneurial Exploitation," Entrepreneurship Theory and Practice, , vol. 36(1), pages 69-96, January.
    16. Ratan J. S. Dheer & Tomasz Lenartowicz, 2018. "Multiculturalism and Entrepreneurial Intentions: Understanding the Mediating Role of Cognitions," Entrepreneurship Theory and Practice, , vol. 42(3), pages 426-466, May.
    17. Oliver Thomas, 2018. "Two decades of cognitive bias research in entrepreneurship: What do we know and where do we go from here?," Management Review Quarterly, Springer, vol. 68(2), pages 107-143, April.
    18. Cassar, Gavin & Craig, Justin, 2009. "An investigation of hindsight bias in nascent venture activity," Journal of Business Venturing, Elsevier, vol. 24(2), pages 149-164, March.
    19. Preeya S. Mohan, 2022. "An investigation into entrepreneurial intentions in Caribbean Small Island Developing States," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-21, December.
    20. Emre Şahin Dölarslan & Akin Koçak & Alper Özer, 2017. "“Bats Are Blind?” Cognitive Biases In Risk Perception Of Entrepreneurs," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 22(03), pages 1-13, September.

    More about this item

    Keywords

    entrepreneurial neuroscience; neuro-entrepreneurship; entrepreneurial enhancement; cognition; brain-driven entrepreneurship; entrepreneurial enhancement;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:ifmwps:0218. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/ifmbode.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.