Are entrepreneurs' decisions more biased? An experimental investigation of the susceptibility to status quo bias

By Katrin Burmeister, C. Schade. 2007

223 citations recorded by the source corpus.

Subfields: General Decision Sciences, Management of Technology and Innovation, Safety Research

View Paper: https://www.semanticscholar.org/paper/a633fbf4788f6fb13647ff2789d9842f3bcc1f37

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In General Decision Sciences

In Management of Technology and Innovation

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Citations in the corpus

The Study of Bias in Entrepreneurship (2017, background): “…settings outside of the United States, including Singapore (Keh et al., 2002), Australia (Shepherd et al., 2003), Austria (Franke et al., 2006), Germany (Burmeister & Schade, 2007; Franke et al.; Grichnik, 2008), the Netherlands (Ebbers & Wijnberg, 2012), and Iceland (Gudmundsson & Lechner, 2013).”
The Importance of Being Emotional : How do Emotions Affect Entrepreneurial Opportunity Evaluation and Exploitation? (2010, background): “So far, recent work has concentrated on these stable tendencies, such as optimism, status quo bias, illusion of control and avoidance of sunk costs (Baron, 2004; Mitchell et al., 2007; Burmeister and Schade, 2007; Hmieleski and Baron, 2009).”
"In pursuit of the real deal": A longitudinal study of VC decision making (2011, background): “While this does not challenge the validity of experimental VC decision making research in general, for some research questions (e.g., “Which deal would you select as an investment?”) incentivecompatibility is an important factor for deriving valid findings (Burmeister and Schade, 2007).”
Designing Entrepreneurship Experiments (2017, background): “…Volery, Müller, Oser, Naepflin, & Del Rey, 2013), normative behaviors of entrepreneurs and non-entrepreneurs (e.g., Arend, 2016; Field, Jayachandran, & Pande, 2010), and cognitive biases (Burmeister & Schade, 2007; Koudstaal, Sloof, & van Praag, 2015) on entrepreneurial decisions and behaviors.”
Thinking About Entrepreneurial Decision Making (2015, background): “…egocentric bias; Moore, Oesch, & Zietsma, 2007), (5) select previously chosen alternatives disproportionally more often (i.e., status quo bias; Burmeister & Schade, 2007), and (6) expand their firms despite negative market feedback (i.e., escalation bias; McCarthy, Schoorman, & Cooper, 1993).”
The role of information asymmetry in the choice of entrepreneurial exit routes (2014, background): “As a consequence of those increased stocks of SEW, with mounting experience owners exhibit increasing preference for the status quo (Burmeister and Schade, 2007), which is the internal succession mode in our setting.”
Easy Now, Desirable Later: The Moderating Role of Temporal Distance in Opportunity Evaluation and Exploitation (2013, unknown): “Moreover, scenario techniques have been used in previous entrepreneurship research (e.g., Burmeister & Schade, 2007; Lévesque & Schade, 2005; Norton & Moore, 2006; Palich & Bagby, 1995; Sarasvathy, Simon, & Lave, 1998; Sarasvathy, Dew, Velamuri, & Venkataraman, 2005; Tumasjan & Braun, 2011;…”
Family Control and Family Firm Valuation by Family CEOs: The Importance of Intentions for Transgenerational Control (2012, background): “However , research suggests that a value premium associated with ownership may also grow over time as a result of extended self-attribution (Belk 1988, Boyce et al. 1992, Watson 1992) and increasing preference for the status quo with experience (Burmeister and Schade 2007).”
Entrepreneur behaviors, opportunity recognition, and the origins of innovative ventures (2008, background): “One unpublished study found that a sample of German entrepreneurs was less prone to the status quo than a sample of German bankers, but no different than a sample of college students (Burmeister and Schade, 2006).”
Toward An Integration of the Behavioral and Cognitive Influences on the Entrepreneurship Process (2016, background): “A status quo bias manifests as a reluctance to try new things (Burmeister and Schade, 2007).”
Recent developments in the economics of entrepreneurship (2008, methodology): “Finally, in a quasi-experimental study, Burmeister and Schade (2007) have found entrepreneurs to be less susceptible than students and bankers to statusquo bias.”