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Blinded by a social cause? Differences in cognitive biases between social and commercial entrepreneurs


Hietschold, Nadine; Voegtlin, Christian (2022). Blinded by a social cause? Differences in cognitive biases between social and commercial entrepreneurs. Journal of Social Entrepreneurship, 13(3):431-452.

Abstract

How are social entrepreneurs different from commercial entrepreneurs? This study sheds light on this issue by applying the perspective of entrepreneurial cognition and by arguing that social entrepreneurs are even more susceptible to cognitive biases than commercial entrepreneurs. The empirical study of 205 Swiss entrepreneurs could confirm that social entrepreneurs tend to be more overconfident and prone to escalation of commitment than commercial entrepreneurs, while the study found no differences for illusion of control. The findings indicate that cognitive biases are an important puzzle piece to understand the differences between social and commercial entrepreneurs.

Abstract

How are social entrepreneurs different from commercial entrepreneurs? This study sheds light on this issue by applying the perspective of entrepreneurial cognition and by arguing that social entrepreneurs are even more susceptible to cognitive biases than commercial entrepreneurs. The empirical study of 205 Swiss entrepreneurs could confirm that social entrepreneurs tend to be more overconfident and prone to escalation of commitment than commercial entrepreneurs, while the study found no differences for illusion of control. The findings indicate that cognitive biases are an important puzzle piece to understand the differences between social and commercial entrepreneurs.

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9 citations in Scopus®
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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Business Administration
Dewey Decimal Classification:330 Economics
Scopus Subject Areas:Social Sciences & Humanities > Business and International Management
Social Sciences & Humanities > Development
Social Sciences & Humanities > Economics and Econometrics
Scope:Discipline-based scholarship (basic research)
Language:English
Date:2 September 2022
Deposited On:16 Feb 2022 08:53
Last Modified:27 May 2024 01:54
Publisher:Taylor & Francis
ISSN:1942-0684
OA Status:Hybrid
Free access at:Publisher DOI. An embargo period may apply.
Publisher DOI:https://doi.org/10.1080/19420676.2021.1880466
Other Identification Number:merlin-id:22140
  • Content: Submitted Version
  • Language: English