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Entrepreneurs' exploratory perseverance in learning settings

  • 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.

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Author: Katrin Muehlfeld, Diemo UrbigORCiD, Utz Weitzel
URL:https://journals.sagepub.com/doi/abs/10.1111/etp.12224
DOI:https://doi.org/10.1111/etp.12224
ISSN:1540-6520
ISSN:0363-9428
Title of the source (English):Entrepreneurship, Theory & Practice
Document Type:Scientific journal article peer-reviewed
Language:English
Year of publication:2017
Tag:Entrepreneurship; Exploration; Iowa Gambling Task; Learning
Volume/Year:41
Issue number:4
First Page:533
Last Page:565
Faculty/Chair:Fakultät 5 Wirtschaft, Recht und Gesellschaft / FG ABWL, insbesondere empirische Unternehmensforschung und Transformation
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