Cognitive mechanisms in entrepreneurship: why and when entrepreneurs think differently than other people

Article Abstract:

Entrepreneurs are more likely to commit cognitive errors than other people mainly because of the type of environment they are exposed to are full of potential sources of bias and error. Entrepreneurs are found working in environment where the impact of biases and errors in cognition tend be maximized. Potential sources of error, which negatively affect entrepreneurial cognition, present in entrepreneurs' working environment include counterfactual thinking, affect infusion and attributional style.

Analysis, Mental efficiency

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Does entrepreneurial self-efficacy distinguish entrepreneurs from managers?

Article Abstract:

An entrepreneurial self-efficacy contruct (ESE) was formulated to determine the distinct psychological attributes of entrepreneurs from managers. Application of ESE on studies involving students and small business executives revealed that entrepreneurship students have much higher self-efficacy rating than management and psychology students in terms of marketing, management and financial control. The plan to establish one's own business was found to have a positive relationship with ESE.

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Counterfactual thinking and venture formation: the potential effects of thinking about "what might have been."

Article Abstract:

Research into the potential impact of counterfactual thinking on decisions to start new business ventures is presented. It is suggested that counterfactual thinking may initially act as a obstacle but could actually be valuable once a new business is underway.

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