On the entrepreneurial genesis of new markets: effectual transformations versus causal search and selection

By Nicholas Dew, Stuart Read, S. Sarasvathy, Robert Wiltbank. 2011

158 citations recorded by the source corpus.

The generation of new markets is an emerging area of interest among researchers working in the traditions of evolutionary economics. And true to those traditions, the current study incorporates empirical evidence from psychology and cognitive science to develop micro-foundations for evolutionary theories of new market generation. In this paper we present an in-depth analysis of how expert entrepreneurs use effectual logic to conceptualize the creation of new markets. Our results challenge received wisdom based on search and selection processes and move beyond combinatorial ideas to develop instead a “transformational” view of market genesis.

Subfields: Economics and Econometrics, Management of Technology and Innovation, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/f499795683cce423e940ceb29f58ea5f8a5ec6b9

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. René Mauer
2. Hans Berends
3. Petra Andries
4. E. van Burg
5. I. Reymen
6. Ute Stephan

In Management of Technology and Innovation

1. René Mauer
2. Petra Andries
3. E. van Burg
4. Ute Stephan

In Management Science and Operations Research

1. René Mauer
2. Hans Berends
3. Petra Andries
4. E. van Burg
5. Ute Stephan

Citations in the corpus

• Understanding dynamics of strategic decision-making in venture creation : a process study of effectuation and causation (2015, result): “Thus, our findings confirm expectations that effectual and causal logics are at work simultaneously (Dew et al., 2011), and contrast with studies treating effectuation and 34    causation as mutually exclusive, opposing logics (e.g., Brettel et al., 2012; Dew et al., 2009).”