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Knut Wicksell Centre for Financial Studies, Lund University Knut Wicksell Working Paper Series, Knut Wicksell Centre for Financial Studies, Lund University

No 2013/1:
Entrepeneurs under Uncertainty: an Economic Experiment in China

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 on 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 in economic decisions, entrepreneurs are more willing to accept strategic uncertainty related to multilateral competition and trust. However, entrepreneurs do not 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)

27 pages, January 23, 2013

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



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