Risk-taking in entrepreneurial decision-making: A dynamic model of venture decision

On the basis of the seminal work of Kahneman and Tversky Econometrica, 47(2): 263–292 (1979), this research extends the boundaries of prospect theory in investigating determinants and temporal variation of risk-taking in entrepreneurial decisions, such as creating a new business organization or investing a risky business project. The two experimental studies (1) identify entrepreneurial risk-taking in the gain situation and find reversal of risk...