Journal
JOURNAL OF ECONOMIC PSYCHOLOGY
Volume 24, Issue 2, Pages 203-220Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/S0167-4870(02)00203-9
Keywords
entrepreneurship; rational choice; effectuation
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This essay connects four key ideas from Herbert Simon's Sciences of the Artificial to recent research on entrepreneurial expertise: (1) natural laws constrain but do not dictate our designs; (2) we should seize every opportunity to avoid the use of prediction in design; (3) locality and contingency govern the sciences of the artificial; and, (4) near-decomposability is an essential feature of enduring designs. The essay is based on a series of conversations and emails with Simon about the empirical findings of my doctoral dissertation that involved a protocol analysis study of expert founder-entrepreneurs. (C) 2003 Elsevier Science B.V. All rights reserved.
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