TitleEntrepreneurs’ start-up versus persistence decisions: A critical evaluation of expectancy and value
Publication TypeJournal Articles
AuthorsHolland, DV, Garrett, R
JournalInternational Small Business Journal
Date Published2013 In Press
KeywordsStrategy & Entrepreneurship

Research suggests that entrepreneurs tend to seek to maximize utility when considering whether to pursue a new venture opportunity. However, when choosing whether to persist with their current venture or not, utility maximization may not be of primary importance to entrepreneurs. Using a conjoint experiment, we examine the difference between entrepreneurs’ decision policies in start-up decisions versus persistence decisions. The analysis of the decisions of 135 entrepreneurs indicates that the way that entrepreneurs use expectancy and value in persistence decision policies is significantly different than the way that they use expectancy and value in general opportunity pursuit decision policies. The results provide interesting insights in the entrepreneurial decision-making process.