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Thinking Fast And Missing The Opportunity: An Investigation Into Cognitive Processing Style And Opportunity Recognition, Chaim Letwin

Electronic Theses and Dissertations

Research on opportunity recognition and entrepreneurial cognition suggests that entrepreneurs are likely to use and potentially benefit from heuristics (Baron, 1998, 2004; Busenitz & Barney, 1997). Some heuristics, particularly well-refined and accurate prototypes, may be valuable to entrepreneurs in recognizing opportunities (Baron, 2004). I seek, however, to consider how other types of heuristics that lead to irrational, biased, and inaccurate judgments (e.g., the betrayal heuristic) relate to opportunity recognition (Baron, 2004; Kahneman & Lovallo, 1993). I specifically consider the underlying causal process through which the use of these types of heuristics diminishes the ability to recognize opportunities. I posit that …