Scandinavian Working Papers in Economics
Knut Wicksell Working Paper Series,
Lund University, Knut Wicksell Centre for Financial Studies
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
27 pages, January 23, 2013
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