Scandinavian Working Papers in Economics
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Department of Economics, Lund University Working Papers, Department of Economics, Lund University

No 2012:4:
Entrepreneurs under Uncertainty: An Economic Experiment

Håkan J. Holm (), Sonja Opper () and Victor Nee ()

Abstract: This study reports findings from the first large scale experiment investigating whether entrepreneurs differ from other people in their willingness to expose themselves to various forms of uncertainty in decision tasks. A stratified random sample of 700 CEOs from the Yangzi delta region in China is compared to 200 control group members. Our findings suggest that entrepreneurs’ seem to be more willing to accept some forms of strategic uncertainty related to multilateral competition and trust. In contrast, entrepreneurs do not seem to differ from ordinary people when it comes to non-strategic forms of uncertainty, such as risk and ambiguity

Keywords: Entrepreneurship; Risk; Ambiguity; Willingness to Compete; Trust; (follow links to similar papers)

JEL-Codes: C93; D21; L21; (follow links to similar papers)

76 pages, January 30, 2012

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This paper is published as:
Holm, Håkan J., Sonja Opper and Victor Nee, (2013), 'Entrepreneurs under Uncertainty: An Economic Experiment', Management Science, Vol. 59, July, No. 7, pages 1671-1687

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