Skip to main content Accessibility help
×
    Show more authors
  • You may already have access via personal or institutional login
  • Select format
  • Publisher:
    Cambridge University Press
    Publication date:
    25 May 2024
    13 June 2024
    ISBN:
    9781009103985
    9781009475754
    9781009108355
    Dimensions:
    (229 x 152 mm)
    Weight & Pages:
    0.26kg, 78 Pages
    Dimensions:
    (229 x 152 mm)
    Weight & Pages:
    0.126kg, 78 Pages
  • Series:
    Elements in Business Strategy
You may already have access via personal or institutional login
  • Selected: Digital
    Add to cart View cart Buy from Cambridge.org
    Series:
    Elements in Business Strategy

    Book description

    Effectuation has become the basis for educating entrepreneurs and managers. Derived from cognitive and behavioral economic studies of expert entrepreneurs, effectuation shows how to cocreate value in highly uncertain situations. The framework of effectuation consists in techniques that minimize the use of predictive information and ways to turn control itself into strategy. In doing so, the effectual process opens up radically new ways to rethink a variety of fundamental concepts in all the social sciences. This ranges from risk and return to markets and governments in economics; attitudes toward ends and means in psychology; opportunism and altruism in social psychology; and even success and failure in strategic management. Effectuation theory inverts several older approaches in what Herbert Simon referred to as the 'sciences of the artificial'. These inversions suggest an entrepreneurial method based on non-predictive control that complements the predictive control techniques of the scientific method.

    References

    Aarts, H. 2019. Goal setting theory and the mystery of setting goals. Motivation Science, 5(2), 106107.
    Allen, P. (2012). Idea Man: A Memoir by the Cofounder of Microsoft. New York: Penguin.
    Aldrich, H. E., & Ruef, M. (2018). Unicorns, gazelles, and other distractions on the way to understanding real entrepreneurship in the United States. Academy of Management Perspectives, 32(4), 458472.
    Alsos, G. A., Clausen, T. H., Hytti, U., & Solvoll, S. (2016). Entrepreneurs’ social identity and the preference of causal and effectual behaviours in start-up processes. Entrepreneurship & Regional Development, 28(3–4), 234258.
    Alsos, G. A., Clausen, T. H., Mauer, R., Read, S., & Sarasvathy, S. D. (2019). Effectual exchange: From entrepreneurship to the disciplines and beyond. Small Business Economics, 54, 605619.
    Alvarez, S. A., & Barney, J. B. (2007). Discovery and creation: Alternative theories of entrepreneurial action. Strategic Entrepreneurship Journal, 1(1–2), 1126.
    Amit, R., Muller, E., & Cockburn, I. (1995). Opportunity costs and entrepreneurial activity. Journal of Business Venturing, 10(2), 95106.
    Anand, S., & Sen, A. (1994). Human Development Index: Methodology and Measurement. Technical report, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    Andriani, P., & Cattani, G. (2016). Exaptation as source of creativity, innovation, and diversity: Introduction to the special section. Industrial and Corporate Change, 25(1), 115131.
    Andrews, K. R. (1997). The concept of corporate strategy. Resources, Firms, and Strategies: A Reader in the Resource-Based Perspective, 52, 1152.
    Angus, R. W. (2019). Problemistic search distance and entrepreneurial performance. Strategic Management Journal, 40(12), 20112023.
    Arrow, K. J., & Debreu, G. (1954). Existence of an equilibrium for a competitive economy. Econometrica: Journal of the Econometric Society, 22, 265290.
    Audretsch, D. B., Santarelli, E., & Vivarelli, M. (1999). Start-up size and industrial dynamics: Some evidence from Italian manufacturing. International Journal of Industrial Organization, 17(7), 965983.
    Baker, T., & Nelson, R. E. (2005). Creating something from nothing: Resource construction through entrepreneurial bricolage. Administrative Science Quarterly, 50(3), 329366.
    Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99120.
    Baumol, W. J. (1968). Entrepreneurship in economic theory. The American Economic Review, 58 (2), 6471.
    Beatty, J., & Carrera, I. (2011). When what had to happen was not bound to happen: History, chance, narrative, evolution. Journal of the Philosophy of History, 5(3), 471495.
    Bemmaor, A. C. (1995). Predicting behavior from intention-to-buy measures: The parametric case. Journal of Marketing Research, 32(2), 176191.
    Black, D. (2000). The purification of sociology. Contemporary Sociology, 29(5), 704709.
    Bloemen-Bekx, M., Lambrechts, F., & Van Gils, A. (2021). An exploration of the role of intuitive forms of planning in the succession process: The explanatory power of effectuation theory. Journal of Family Business Management, 13(2), 486502.
    Brealey, R., & Myers, S. (1984). Principles of Corporate Finance. New York: McGraw-Hill/Irwin
    Brettel, M., Mauer, R., Engelen, A., & Küpper, D. (2012). Corporate effectuation: Entrepreneurial action and its impact on R&D project performance. Journal of Business Venturing, 27(2), 167184.
    Brockhaus, R. H. Sr. (1980). Risk taking propensity of entrepreneurs. Academy of Management Journal, 23(3), 509520.
    Bromiley, P., & Curley, S. P. (1992). Individual differences in risk taking. In Yates, J. F. (ed.), Risk-Taking Behavior, pp. 87132. John Wiley & Sons.
    Burke, A. E., FitzRoy, F. R., & Nolan, M. A. (2008). What makes a die-hard entrepreneur? Beyond the “employee or entrepreneur” dichotomy. Small Business Economics, 31, 93115.
    Burt, R. S. (1982). Toward a Structural Theory of Action (Vol. 10). New York: Academic Press.
    Buss, A. H. (1989). Personality as traits. American Psychologist, 44(11), 13781388.
    Butler, O. E. (2012). Parable of the Sower (Vol. 1). New York: Open Road Media.
    Camerer, C., & Lovallo, D. (1999). Overconfidence and excess entry: An experimental approach. American Economic Review, 89(1), 306318.
    Cardon, M. S., & Kirk, C. P. (2015). Entrepreneurial passion as mediator of the self–efficacy to persistence relationship. Entrepreneurship Theory and Practice, 39(5), 10271050.
    Cassar, G. (2006). Entrepreneur opportunity costs and intended venture growth. Journal of Business Venturing, 21(5), 610632.
    Casson, M. (1982). The entrepreneur: An economic theory. Rowman & Littlefield.
    Cavalli, G., & Heard, E. (2019). Advances in epigenetics link genetics to the environment and disease. Nature, 571(7766), 489499.
    Chakrabarty, S., & Erin Bass, A. (2015). Comparing virtue, consequentialist, and deontological ethics-based corporate social responsibility: Mitigating microfinance risk in institutional voids. Journal of Business Ethics, 126(3), 487512.
    Chang, E. C., & Pinegar, J. M. (1988). A fundamental study of the seasonal risk-return relationship: A note. The Journal of Finance, 43(4), 10351039.
    Chiappe, D. L., & Kukla, A. (1996). Context selection and the frame problem. Behavioral and Brain Sciences, 19(3), 529530.
    Christensen, C. M., Raynor, M., & Verlinden, M. (2001). Skate to where the money will be. Harvard Business Review, 79(10), 7283.
    Cohen, A. (2003). The Perfect Store: Inside eBay. New York: Back Bay Books.
    Corner, P. D., & Ho, M. (2010). How opportunities develop in social entrepreneurship. Entrepreneurship Theory and Practice, 34(4), 635659.
    Crisp, R. (2021). Well-being. In Zalta, E. N. (Ed.), The Stanford Encyclopedia of Philosophy (Vol. Winter 2021). https://plato.stanford.edu/archives/win2021/entries/well-being/
    Csikszentmihalyi, M., & Nakamura, J. (1999). Emerging goals and the self-regulation of be- havior. In Wyer, R. S. (Ed.), Advances in Social Cognition: Vol. 12. Perspectives on Behavioral Self-regulation (pp. 107118). Mahwah, NJ: Erl- baum.
    Cyert, R. M., & March, J. G. (1963/1992). A Behavioral Theory of the Firm, 2nd ed. Englewood Cliffs, NJ: Prentice Hall.
    Davidsson, P. (2023). Ditching discovery-creation for unified venture creation research. Entrepreneurship Theory and Practice, 47(2), 594612.
    Dew, N. (2009). Serendipity in entrepreneurship. Organization Studies, 30(7), 735753.
    Dew, N., Ramesh, A., Read, S., Sarasvathy, S. D., & Virginia, V. (2018). Toward deliberate practice in the development of entrepreneurial expertise: The anatomy of the effectual ask. In Ericsson, K. A., Hoffman, R. R., Kozbelt, A., & Williams, A. M. (Eds.), The Cambridge Handbook of Expertise and Expert Performance, 389412. Cambridge: Cambridge University Press.
    Dew, N., Sarasathy, S. D., Read, S., & Wiltbank, R. (2009). Affordable loss: Behavioral economic aspects of the plunge decision. Strategic Entrepreneurship Journal, 3(2), 105126.
    Dew, N., Sarasvathy, S. D., & Venkataraman, S. (2004). The economic implications of exaptation. Journal of Evolutionary Economics, 14(1), 6984.
    Domino, B., & Conway, D. W. (2000). Optimism and pessimism from a historical perspective. In Chang, E. C. (Ed.), Optimism & Pessimism: Implications for Theory, Research, and Practice, (pp. 310). Washington, DC: American Psychological Association.
    Dunn, J. M., & Restall, G. (2002). Relevance logic. In Gabbay, Dov M. and Guenthner, Franz (Eds.), Handbook of Philosophical Logic (pp. 1128). Dordrecht: Kluwer Academic Publishers.
    Edwards, W., & Fasolo, B. (2001). Decision technology. Annual Review of Psychology, 52(1), 581606.
    Elster, J. (2000). Ulysses Unbound: Studies in Rationality, Precommitment, and Constraints. Cambridge: Cambridge University Press.
    Ericsson, K. A., Krampe, R. T., & Tesch-Römer, C. (1993). The role of deliberate practice in the acquisition of expert performance. Psychological Review, 100(3), 363406. http://search.epnet.com/direct.asp?an=rev1003363&db=pdh&tg=AN
    Ericsson, K. A., & Simon, H. A. (1993). Protocol Analysis: Verbal Reports as Data. Cambridge, MA: MIT Press.
    Ericsson, K. A. (2006). The influence of experience and deliberate practice on the development of superior expert performance. In Ericsson, K. A., Charness, N., Feltovich, P., Hoffman, R. R. (Eds.), The Cambridge Handbook of Expertise and Expert Performance, (pp. 685706). Cambridge: Cambridge University Press.
    Feenstra, R. C., & Hamilton, G. G. (2006). Emergent Economies, Divergent Paths: Economic Organization and International Trade in South Korea and Taiwan (Vol. 29). Cambridge: Cambridge University Press.
    Feibleman, J. K. (1972). The testing of laws: Prediction and control. In Scientific Method (pp. 195213). Dordrecht: Springer.
    Fischer, D., Greven, A., Tornow, M., & Brettel, M. (2021). On the value of effectuation processes for R&D alliances and the moderating role of R&D alliance experience. Journal of Business Research, 135, 606619.
    Fischer, E., & Reuber, A. R. (2011). Social interaction via new social media: (How) can interactions on Twitter affect effectual thinking and behavior? Journal of Business Venturing, 26(1), 118.
    Fodor, J. A. (2008). Modularity of mind: An essay on faculty psychology. In Adler, J. E., & Rips, L. J. (Eds.), Reasoning: Studies of Human Inference and Its Foundations (pp. 878914). Cambridge: Cambridge University Press. (Reprinted from Modularity of Mind: An Essay on Faculty Psychology, 1983, Cambridge, MA: MIT Press.)
    Folta, T. B., Delmar, F., & Wennberg, K. (2010). Hybrid entrepreneurship. Management Science, 56(2), 253269.
    Frese, T., Geiger, I., & Dost, F. (2020). An empirical investigation of determinants of effectual and causal decision logics in online and high-tech start-up firms. Small Business Economics, 54(3), 641664.
    Gabrielsson, J., & Politis, D. (2011). Career motives and entrepreneurial decision-making: examining preferences for causal and effectual logics in the early stage of new ventures. Small Business Economics, 36(3), 281298.
    Gazzaley, A., & Rosen, L. D. (2016). The Distracted Mind: Ancient Brains in a High-Tech World. Cambridge: MIT Press.
    Gigerenzer, G. (1991). From tools to theories: A heuristic of discovery in cognitive psychology. Psychological Review, 98(2), 254.
    Gigerenzer, G. (2018). The bias bias in behavioral economics. Review of Behavioral Economics, 5(3–4), 303336.
    Gollinger, T. L., & Morgan, J. B. (1993). Calculation of an efficient frontier for a commercial loan portfolio. Journal of Portfolio Management, 19(2), 39.
    Gompers, P., Kovner, A., Lerner, J., & Scharfstein, D. S. (2006). Skill vs. luck in entrepreneurship and venture capital: Evidence from serial entrepreneurs. National Bureau of Economic Research: Cambridge, MA.
    Goodman, N. (1983). Fact, Fiction and Forecast. Cambridge, MA: Harvard University Press.
    Goodman, R. (2021). William James. Winter 2021. https://plato.stanford.edu/archives/win2021/entries/james/
    Gopnik, A., & Wellman, H. M. (1992). Why the child’s theory of mind really is a theory. Mind b Language, 7(1&2), 145171.
    Gould, S. J., & Vrba, E. S. (1982). Exaptation – a missing term in the science of form. Paleobiology, 8(1), 415.
    Grimes, M. G. (2018). The pivot: How founders respond to feedback through idea and identity work. Academy of Management Journal, 61(5), 16921717.
    Hambrick, D. Z., Burgoyne, A. P., Macnamara, B. N., & Ullén, F. (2018). Toward a multifactorial model of expertise: Beyond born versus made. Annals of the New York Academy of Sciences, 1423(1), 284295.
    Hardin, G. (1968). The tragedy of the commons. Science 162, 12431248.
    Harms, R., & Schiele, H. (2012). Antecedents and consequences of effectuation and causation in the international new venture creation process. Journal of International Entrepreneurship, 10(2), 95116.
    Harris, L., Lee, V. K., Thompson, E. H., & Kranton, R. (2016). Exploring the generalization process from past behavior to predicting future behavior. Journal of Behavioral Decision Making, 29(4), 419436.
    Hastie, R. (2001). Problems for judgment and decision making. Annual Review of Psychology, 52(1), 653683.
    Hayek, F. A. (1984). Competition as a discovery procedure. In Nishiyama, C., & Leube, K. (Eds.), The Essence of Hayek (pp. 257). Stanford: Stanford University Press.
    Hayward, M. L., Forster, W. R., Sarasvathy, S. D., & Fredrickson, B. L. (2010). Beyond hubris: How highly confident entrepreneurs rebound to venture again. Journal of Business Venturing, 25(6), 569578.
    Headd, B. (2003). Redefining business success: Distinguishing between closure and failure. Small Business Economics, 21, 5161.
    Hébert, R. F., & Link, A. N. (2007). Historical perspectives on the entrepreneur. Foundations and Trends® in Entrepreneurship, 2(4), 261408.
    Hechter, M., & Kanazawa, S. (1997). Sociological rational choice theory. Annual Review of Sociology, 23(1), 191214.
    Hindman, M. (2015). Building better models: Prediction, replication, and machine learning in the social sciences. The Annals of the American Academy of Political and Social Science, 659(1), 4862.
    Holland, D. V., & Shepherd, D. A. (2013). Deciding to persist: Adversity, values, and entrepreneurs’ decision policies. Entrepreneurship Theory and Practice, 37(2), 331358.
    Huang, L., & Knight, A. P. (2017). Resources and relationships in entrepreneurship: An exchange theory of the development and effects of the entrepreneur-investor relationship. Academy of Management Review, 42(1), 80102.
    Hunt, L. (2007). Inventing Human Rights: A History. WW Norton.
    Joas, H. (1996). The Creativity of Action. Chicago: University of Chicago Press.
    Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47(2), 363391.
    Kamat, M. A., Blackshaw, J. A., Young, R., et al. (2019). PhenoScanner V2: An expanded tool for searching human genotype – phenotype associations. Bioinformatics, 35(22), 48514853.
    Karami, M., Wooliscroft, B., & McNeill, L. (2020). Effectuation and internationalisation: A review and agenda for future research. Small Business Economics, 55, 777811.
    Karlson, B., Bellavitis, C., & France, N. (2021). Commercializing LanzaTech, from waste to fuel: An effectuation case. Journal of Management & Organization, 27(1), 175196.
    Keller, E. F. (2010). Goodbye nature vs nurture debate. New Scientist, 207(2778), 2829.
    Kelley, H. H. (2000). The proper study of social psychology. Social Psychology Quarterly, 63(1), 315.
    Kerr, J., & Coviello, N. (2019). Formation and constitution of effectual networks: A systematic review and synthesis. International Journal of Management Reviews, 21(3), 370397.
    Klein, P. G. (2008). Opportunity discovery, entrepreneurial action, and economic organization. Strategic Entrepreneurship Journal, 2(3), 175190.
    Knight, F. H. (1921). Risk, Uncertainty and Profit. New York: Houghton Mifflin.
    Knudsen, T. (2003). Simon’s election theory: Why docility evolves to breed successful altruism. Journal of Economic Psychology, 24, 229244. https://doi.org/10.1016/S0167-4870(02)00205-2
    Koehn, N. F. (2001). Brand New : How Entrepreneurs Earned Consumers’ Trust from Wedgwood to Dell. Boston, MA: Harvard Business School Press.
    Koellinger, P., Minniti, M., & Schade, C. (2007). “I think I can, I think I can”: Overconfidence and entrepreneurial behavior. Journal of Economic Psychology, 28(4), 502527.
    Kuusela, H., & Paul, P. (2000). A comparison of concurrent and retrospective verbal protocol analysis. American Journal of Psychology, 113(3), 387404.
    Langer, E. (2005). Well-being: Mindfulness versus positive evaluation. In Snyder, C. R. & Lopez, S. J. (Eds.), Handbook of Positive Psychology, (pp. 214–230). New York: Oxford University Press.
    Lawless, R. M., & Warren, E. (2005). The myth of the disappearing business bankruptcy. California Law Review, 93, 743.
    Leca, B., Battilana, J., & Boxenbaum, E. (2008). Agency and Institutions: A Review of Institutional Entrepreneurship, (pp. 896). Cambridge, MA: Harvard Business School .
    Levi-Strauss, C. (1966). The Savage Mind. Chicago, IL: University of Chicago Press.
    Liedtka, J. (2014). Innovative ways companies are using design thinking. Strategy & Leadership.
    Lillard, A. S., & Erisir, A. (2011). Old dogs learning new tricks: Neuroplasticity beyond the juvenile period. Developmental review, 31(4), 207239.
    Loasby, B. J. (1999). Knowledge, Institutions and Evolution in Economics. London: Routledge.
    Loasby, B. J. (2001). Time, knowledge and evolutionary dynamics: Why Connections Matter. Journal of Evolutionary Economics, 11(4), 393412.
    Luzzi, A., & Sasson, A. (2016). Individual entrepreneurial exit and earnings in subsequent paid employment. Entrepreneurship Theory and Practice, 40(2), 401420.
    MacCrimmon, K. R., & Wehrung, D. A. (1990). Characteristics of risk taking executives. Management Science, 36(4), 422435.
    Mainela, T., & Puhakka, V. (2009). Organising new business in a turbulent context: Opportunity discovery and effectuation for IJV development in transition markets. Journal of International Entrepreneurship, 7(2), 111134.
    Makadok, R., & Walker, G. (1996). Search and selection in the money market fund industry. Strategic Management Journal, 17(S1), 3954.
    March, J. G. (1978). Bounded rationality, ambiguity, and the engineering of choice. Bell Journal of Economics, 9(2), 587608.
    March, J. G., & Shapira, Z. (1987). Managerial perspectives on risk and risk taking. Management Science, 33(11), 14041418.
    Markowitz, H. M. (1991). Foundations of portfolio theory. The Journal of Finance, 46(2), 469477.
    Marshall, A. (1890 [2009]). Principles of Economics: Unabridged, 8th ed. New York: Cosimo.
    Martina, R. A. (2018). Toward a theory of affordable loss. Small Business Economics, 54(3), 751774.
    Marx, K. (1867). Capital: A Critique of Political economy. Volume 1, Part 1: The Process of Capitalist Production. New York: Cosimo.
    Mazzucato, M. (2015). Entrepreneurial State: Debunking Public vs. Private Sector Myths. London: Anthem Press.
    McAdams, D. P., & Olson, B. D. (2010). Personality development: Continuity and change over the life course. Annual Review of Psychology, 61, 517542.
    McNally, D. (1993). Against the Market: Political Economy, Market Socialism and the Marxist Critique. London: Verso.
    Mirowski, P. (1991). More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics. Cambridge: Cambridge University Press.
    Molden, D. C., & Dweck, C. S. (2006). Finding “meaning” in psychology: A lay theories approach to self-regulation, social perception, and social development. American Psychologist, 61(3), 192.
    Mooradian, T., Matzler, K., Uzelac, B., & Bauer, F. (2016). Perspiration and inspiration: Grit and innovativeness as antecedents of entrepreneurial success. Journal of Economic Psychology, 56, 232243.
    Moses, L. B. (2007). Recurring dilemmas: The law’s race to keep up with technological change. University of Illinois Journal of Law, Technology, & Policy, 2007 (2), 239.
    Moyo, D. (2009). Dead Aid: Why Aid Is Not Working and How There Is a Better Way for Africa. London: Macmillan.
    Murphy, M., Danis, W. M., & Mack, J. (2020). From principles to action: Community-based entrepreneurship in the Toquaht Nation. Journal of Business Venturing, 35(6), 106051.
    Murphy, M. C., & Dweck, C. S. (2010). A culture of genius: How an organization’s lay theory shapes people’s cognition, affect, and behavior. Personality and Social Psychology Bulletin, 36(3), 283296.
    Nahata, R. (2019). Success is good but failure is not so bad either: Serial entrepreneurs and venture capital contracting. Journal of Corporate Finance, 58, 624649.
    Brandenburger, A. M., and Nalebuff, B. J. (1996). Co-Opetition. Currency/Doubleday:New York.
    Nambisan, S., Siegel, D., & Kenney, M. (2018). On open innovation, platforms, and entrepreneurship. Strategic Entrepreneurship Journal, 12(3), 354368.
    Nielsen, K., & Sarasvathy, S. D. (2016). A market for lemons in serial entrepreneurship? Exploring type I and type II errors in the restart decision. Academy of Management Discoveries, 2(3), 247271.
    Nielsen, K., & Sarasvathy, S. D. (2018). Exit perspective on entrepreneurship. In Turcan, R. and Fraser, N. (Eds.), The Palgrave Handbook of Multidisciplinary Perspectives on Entrepreneurship (pp. 223245). Springer.
    OECD. (2015). High-growth enterprises rate. In Entrepreneurship at a Glance. Paris: OECD.
    OECD. (2016). Survival of enterprises. In Entrepreneurship at a Glance. Paris: OECD.
    Olive-Tomas, A., & Harmeling, S. S. (2020). The rise of art movements: An effectual process model of Picasso’s and Braque’s give-and-take during the creation of Cubism (1908–1914). Small Business Economics, 54(3), 819842.
    Olson, M. Jr. (1971). The Logic of Collective Action: Public Goods and the Theory of Groups, with a new preface and appendix (Vol. 124), Cambridge MA: Harvard University Press.
    Ostrom, E. (2010). Beyond markets and states: Polycentric governance of complex economic systems. American Economic Review, 100(3), 641672.
    Pareto, V., Schwier, A. S., & Page, A. N. (1971). Manual of Political Economy. London: Macmillan.
    Parker, S. C. (2013). Do serial entrepreneurs run successively better-performing businesses? Journal of Business Venturing, 28(5), 652666.
    Pearl, J. (2009). Causality. Cambridge: Cambridge university press.
    Petroski, H. (1985). To Engineer Is Human: The Role of Failure in Successful Design. New York: St Martins Press.
    Plag, I. (2006). Productivity. In Aarts, Bas & McMahon, April M. (Eds.), The handbook of English linguistics, (pp. 483–499). Oxford: Blackwell.
    Penrose, E. (1959). The Theory of the Growth of the Firm. New York: Oxford University Press.
    Pfeffer, J., & Salancik, G. R. (1978). The External Control of Organizations: A Resource Dependence Perspective. New York: Harper & Row.
    Poschke, M. (2013). “Entrepreneurs out of necessity”: A snapshot. Applied Economics Letters, 20(7), 658663.
    Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78.
    Posen, H. E., Keil, T., Kim, S., & Meissner, F. D. (2018). Renewing research on problemistic search – A review and research agenda. Academy of Management Annals, 12(1), 208251.
    Read, S., Dew, N., Sarasvathy, S. D., Song, M., & Wiltbank, R. (2009). Marketing under uncertainty: The logic of an effectual approach. Journal of Marketing, 73(3), 118.
    Read, S., Sarasvathy, S., Dew, N., & Wiltbank, R. (2016). Effectual Entrepreneurship. Abingdon: Routledge.
    Read, S., Song, M., & Smit, W. (2009). A meta-analytic review of effectuation and venture performance. Journal of Business Venturing, 24(6), 573587.
    Reymen, I., Berends, H., Oudehand, R., & Stultiëns, R. (2017). Decision making for business model development: A process study of effectuation and causation in new technology‐based ventures. R&D Management, 47(4), 595606.
    Roberts, R. M. (1989). Serendipity: Accidental Discoveries in Science. New York: Wiley.
    Roemer, J. E. (1988). Free to Lose: An Introduction to Marxist Economic Philosophy (Vol. 360). Cambridge: Harvard University Press.
    Rosling, H. (2019). Factfulness. Flammarion. New York: Flatiron Books
    Rychlak, J. F. (1964). Control and prediction and the clinician. American Psychologist, 19(3), 186.
    Sackett, P. R., Gruys, M. L., & Ellingson, J. E. (1998). Ability – personality interactions when predicting job performance. Journal of Applied Psychology, 83(4), 545.
    Shane, S. A. (2003). A General Theory of Entrepreneurship: The Individual-Opportunity Nexus. Northampton: Edward Elgar Publishing Incorporated.
    Saini, A. (2018). Picking Winners: A Big Data Approach to Evaluating Startups and Making Venture Capital Investments. Cambridge: Massachusetts Institute of Technology.
    Salgado, J. F. (2003). Predicting job performance using FFM and non‐FFM personality measures. Journal of Occupational and Organizational Psychology, 76(3), 323346.
    Sarason, Y., Dean, T., & Dillard, J. F. (2006). Entrepreneurship as the nexus of individual and opportunity: A structuration view. Journal of Business Venturing, 21(3), 286305.
    Sarasvathy, S. D. (2001). Causation and effectuation: Toward a theoretical shift from economic inevitability to entrepreneurial contingency. Academy of Management: The Academy of Management Review, 26(2), 243263.
    Sarasvathy, D. K., Simon, H. A., & Lave, L. (1998). Perceiving and managing business risks: Differences between entrepreneurs and bankers. Journal of Economic Behavior and Organization, 33(2), 207225.
    Sarasvathy, S. D. (2009). Effectuation: Elements of Entrepreneurial Expertise. Cheltenham: Edward Elgar.
    Sarasvathy, S. D. (2021). An Effectual Analysis of Markets and States. In Wennberg, K., & Sandström, C. (Eds.), Questioning the Entrepreneurial State: A Revised Perspective on States and Markets (pp. 3755). Berlin: Springer.
    Sarasvathy, S. D., & Dew, N. (2005). New market creation as transformation. Journal of Evolutionary Economics, 15(5), 533565.
    Sarasvathy, S. D., Menon, A. R., & Kuechle, G. (2013). Failing firms and successful entrepreneurs: Serial entrepreneurship as a temporal portfolio. Small Business Economics, 40(2), 417434.
    Sarasvathy, S. D., & Ramesh, A. (2019). An effectual model of collective action for addressing sustainability challenges. Academy of Management Perspectives, 33(4), 405424.
    Sarasvathy, S. D., & Venkataraman, S. (2011). Entrepreneurship as method: Open questions for an entrepreneurial future. Entrepreneurship Theory and Practice, 35(1), 113135.
    Schumpeter, J. A. (1975[1942]). The process of creative destruction. In Capitalism, Socialism and Democracy (pp. 8186). New York: Harper Torchbooks.
    Scott, W. R. (2005). Institutional theory: Contributing to a theoretical research program. Great Minds in Management: The Process of Theory Development, 37(2), 460484.
    Sellars, R. W. (1939). Positivism in contemporary philosophic thought. American Sociological Review, 4(1), 2642.
    Sen, A. (1999). Development as Freedom. New York: Anchor Books.
    Servantie, V., & Rispal, M. H. (2018). Bricolage, effectuation, and causation shifts over time in the context of social entrepreneurship. Entrepreneurship & Regional Development, 30(3–4), 310335.
    Shaffer, J. (2012). Neuroplasticity and positive psychology in clinical practice: A review for combined benefits. Psychology, 3(12), 1110.
    Shah, S. K., & Tripsas, M. (2007). The accidental entrepreneur: The emergent and collective process of user entrepreneurship. Strategic Entrepreneurship Journal, 1(1–2), 123140.
    Simon, H. A. (1964). On the concept of organizational goal. Administrative Science Quarterly, 9(1), 122.
    Simon, H. A. (1996). Sciences of the Artificial, 3rd ed. Cambridge, MA: MIT Press.
    Simon, H. A. (1997). An Empirically-Based Microeconomics. Cambridge: Cambridge University Press.
    Simon, J. L. (1980). Resources, population, environment: An oversupply of false bad news. Science, 208(4451), 14311437.
    Simonton, D. K. (1988). Scientific Genius: A Psychology of Science. Cambridge: Cambridge University Press.
    Skousen, M. (2015). The Big Three in Economics: Adam Smith, Karl Marx, and John Maynard Keynes: Adam Smith, Karl Marx, and John Maynard Keynes. New York:.
    Slovic, P. (1995). The construction of preference. American Psychologist, 50(5), 364371.
    Smith, A. (1978 [1766]). Lectures on Jurisprudence. Cambridge: Cambridge University Press.
    Smith, A. (1822). The Theory of Moral Sentiments (Vol. 1). London: J. Richardson.
    Smith, A. (1863). An Inquiry into the Nature and Causes of the Wealth of Nations.
    Smolka, K. M., Verheul, I., Burmeister-Lamp, K., & Heugens, P. P. (2018). Get it together! Synergistic effects of causal and effectual decision – making logics on venture performance. Entrepreneurship Theory and Practice, 42(4), 571604.
    Spender, J. C. (2013). Herbert Alexander Simon: Philosopher of the organizational life-world. In Witzel, M., & Warner, M. (Eds.), The Oxford Handbook of Management Theorists (pp. 297358). Oxford: Oxford University Press.
    Stevenson, H. H., & Jarillo, J. C. (1990). A paradigm of entrepreneurship: Entrepreneurial management. Strategic Management Journal, 11, 1727.
    Stigler, G. J., & Becker, G. S. (1977). De gustibus non est disputandum. The American Economic Review, 67(2), 7690.
    Sumner, L. (1987). The Moral Foundation of Rights. New York: Oxford University Press.
    Szambelan, S. M., & Jiang, Y. D. (2020). Effectual control orientation and innovation performance: Clarifying implications in the corporate context. Small Business Economics, 54(3), 865882.
    Taleb, N. N. (2007). The Black Swan: The Impact of the Highly Improbable. New York, NY: Random House.
    Tetlock, P. E. (2009). Expert Political Judgment. Princeton: Princeton University Press.
    Van den Steen, E. (2004). Rational overoptimism (and other biases). American Economic Review, 94(4), 11411151.
    Varian, H. R. (2014). Intermediate Microeconomics: A Modern Approach: Ninth International, Student Edition. New York: WW Norton.
    Varzi, A. (2019). Mereology. In Zalta, E. N. (Ed.), The Stanford Encyclopedia of Philosophy (Vol. Spring 2019). https://plato.stanford.edu/archives/win2021/entries/well-being/
    Volti, R. (2005). Society and Technological Change. London: Macmillan.
    Wasserman, N. (2003). Founder-CEO succession and the paradox of entrepreneurial success. Organization Science, 14(2), 149172.
    Wasserman, N. (2012). The Founder’s Dilemmas. Princeton University Press.
    Welter, F., Smallbone, D., & Pobol, A. (2015). Entrepreneurial activity in the informal economy: a missing piece of the entrepreneurship jigsaw puzzle. Entrepreneurship & Regional Development, 27(5–6), 292306.
    Weiss, R. (1969). The American Myth of Success: From Horatio Alger to Norman Vincent Peale. Chicago: University of Illinois Press.
    Wennberg, K., Wiklund, J., DeTienne, D. R., & Cardon, M. S. (2010). Reconceptualizing entrepreneurial exit: Divergent exit routes and their drivers. Journal of Business Venturing, 25(4), 361375.
    Werndl, C. (2009). What are the new implications of chaos for unpredictability? The British Journal for the Philosophy of Science, 60(1), 195220.
    Westfall, R. S. (2020). The rise of science and the decline of orthodox Christianity: A study of Kepler, Descartes, and Newton. In Lindberg, D. C. and Numbers, R. L. (Eds.), God and Nature (pp. 218237). University of California Press.
    Williams, C. C., & Nadin, S. (2012). Work beyond employment: representations of informal economic activities. Work, Employment and Society, 26(2), 110.
    Williamson, O. E. (1963). Managerial discretion and business behavior. The American Economic Review, 53(5), 10321057.
    Williamson, O. E. (1985). The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting. New York: Free Press.
    Williamson, O. E. (1993). Opportunism and its critics. Managerial and Decision Economics, 14 (2), 97107.
    Wiltbank, R., Read, S., Dew, N., & Sarasvathy, S. D. (2009). Prediction and control under uncertainty: Outcomes in angel investing. Journal of Business Venturing, 24(2), 116133.
    Wong, P. K., Lee, L., & Der Foo, M. (2008). Occupational choice: The influence of product vs. process innovation. Small Business Economics, 30(3), 267281.
    Yates, J. (1992). Risk-Taking Behavior. New York: John Wiley.
    Yin, J., & Yuan, Q. (2015). Structural homeostasis in the nervous system: A balancing act for wiring plasticity and stability. Frontiers in Cellular Neuroscience, 8, 439.

    Metrics

    Altmetric attention score

    Full text views

    Total number of HTML views: 0
    Total number of PDF views: 0 *
    Loading metrics...

    Book summary page views

    Total views: 0 *
    Loading metrics...

    * Views captured on Cambridge Core between #date#. This data will be updated every 24 hours.

    Usage data cannot currently be displayed.

    Accessibility standard: Unknown

    Why this information is here

    This section outlines the accessibility features of this content - including support for screen readers, full keyboard navigation and high-contrast display options. This may not be relevant for you.

    Accessibility Information

    Accessibility compliance for the PDF of this book is currently unknown and may be updated in the future.