"BATS ARE BLIND?" COGNITIVE BIASES IN RISK PERCEPTION OF ENTREPRENEURS

DÖLARSLAN E. Ş., Kocak A., ÖZER A.

JOURNAL OF DEVELOPMENTAL ENTREPRENEURSHIP, cilt.22, sa.3, 2017 (ESCI) identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 22 Sayı: 3
  • Basım Tarihi: 2017
  • Doi Numarası: 10.1142/s1084946717500212
  • Dergi Adı: JOURNAL OF DEVELOPMENTAL ENTREPRENEURSHIP
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus
  • Anahtar Kelimeler: Cognitive bias, risk perception, social capital, experience, prior knowledge, SELF-EFFICACY, OPPORTUNITY IDENTIFICATION, UNREALISTIC OPTIMISM, DECISION-MAKING, PRIOR KNOWLEDGE, OVERCONFIDENCE, COMPETENCE, EXPLAIN
  • Ankara Üniversitesi Adresli: Evet

Özet

In general, it could be said that bats are blind but they have high quality senses of smelling and hearing to survive. Similarly, entrepreneurs can look at the business world with different eyes to survive. This affects their cognitive biases in risk perception. The aim of this study was to analyze how entrepreneurs' cognitive biases affect their opportunity exploitation and risk perception. In this study, we evaluated self-efficacy, locus of control, overconfidence and optimism as dimensions of cognition. Independently of our purpose, results also show entrepreneurs have social capital, such as experience and prior knowledge, which forms their cognitive biases and leads them to perceive less risk when evaluating a new venture idea.