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Entrepreneurs Embrace Competition: Evidence from a Lab-in-the-Field Study

  • Referring to Isreal M. Kirzner (1973) and Joseph A. Schumpeter (1934), who emphasized the competitive nature of entrepreneurship, this study investigates whether entrepreneurs are more competitive than non-entrepreneurs. We provide a conceptual framework that links entrepreneurship to three facets of individual competitiveness drawn from economic, entrepreneurship, and psychological research: a desire to win, striving for personal development, and an enjoyment of competition. Following recent economic research linking competitive behavior in experiments to career choices, we conduct a lab-in-the-field study and demonstrate that entrepreneurs are more likely to enter competitions than non-entrepreneurs. Accounting for individual desires to win and mastery-related achievement motivations, our results indicate that entrepreneurs tend to enter competition for the sake of competition itself rather than for the prospect of winning a competition or personal development in competition. Our results suggest that enjoyment of competition mightReferring to Isreal M. Kirzner (1973) and Joseph A. Schumpeter (1934), who emphasized the competitive nature of entrepreneurship, this study investigates whether entrepreneurs are more competitive than non-entrepreneurs. We provide a conceptual framework that links entrepreneurship to three facets of individual competitiveness drawn from economic, entrepreneurship, and psychological research: a desire to win, striving for personal development, and an enjoyment of competition. Following recent economic research linking competitive behavior in experiments to career choices, we conduct a lab-in-the-field study and demonstrate that entrepreneurs are more likely to enter competitions than non-entrepreneurs. Accounting for individual desires to win and mastery-related achievement motivations, our results indicate that entrepreneurs tend to enter competition for the sake of competition itself rather than for the prospect of winning a competition or personal development in competition. Our results suggest that enjoyment of competition might be an additional factor driving entrepreneurs’ market entry decisions beyond well-known factors like overconfidence and risk taking.show moreshow less

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Metadaten
Author: Diemo UrbigORCiD, Werner Bönte, Vivien D. ProcherORCiD, Sandro Lombardo
DOI:https://doi.org/10.5465/AMBPP.2019.10157abstract
Title of the source (English):Academy of Management Proceedings
Document Type:Conference publication peer-reviewed
Language:English
Year of publication:2019
Tag:Entrepreneurship; experiment; individual competitiveness
Volume/Year:2019
Issue number:1
Article number:10157
Faculty/Chair:Fakultät 5 Wirtschaft, Recht und Gesellschaft / FG ABWL, insbesondere empirische Unternehmensforschung und Transformation
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