Stages Of Discovery And Entrepreneurship

In an attempt at a systematic theory of entrepreneurship, this paper connects various literatures, from economics and business. In economics, there are many notions of entrepreneurship, some of which seem to contradict each other. For example, there are notions of entrepreneurship as an equilibrating and as a disequilibrating force. In this paper, these differences are connected with the issue of exploitation and exploration from the business literature. The question is how one can explore while maintaining exploitation. For this, a cycle of discovery has been proposed, with stages of equilibration and disequilibration which build on each other, in process where exploitation leads to exploration. It is proposed that different notions of entrepreneurship can be associated with different stages of that cycle. In this way, different types of entrepreneurship complement each other in an ongoing process of discovery.entrepreneurship;innovation;organizational learning;discovery

Innovation, Learning and Cluster Dynamics

This chapter offers a theory and an analytical framework for the analysis of cluster dynamics, i.e. the innovative performance and evolution of clusters.It develops three types of embedding: institutional embedding, structural embedding (network structure), and relational embedding (type and strength of ties).The analysis is conducted from a perspective of both competence (learning) arising from relations and governance of relational risk, which includes risk of lock-in and risk of spillover.A basic proposition is that innovative clusters face the challenge of combining exploration and exploitation.Hypotheses are specified concerning differences between networks for exploration and exploitation, and concerning combinations and transitions between them.Arguments are presented that in some important respects go against the thesis of the strength of weak ties .Some empirical evidence is presented from recent studies.innovation;organizational learning;clusters;industrial districts;networks

Tests of the ratio rule in categorization

Many theories of learning and memory (e.g. connectionist, associative, rational, exemplar-based) produce psychological magnitude terms as output (i.e. numbers representing the momentary level of some subjective property). Many theories assume that these numbers may be translated into choice probabilities via the Ratio Rule, a.k.a. the Choice Axiom (Luce, 1959) or the Constant-Ratio Rule (Clarke, 1957). We present two categorization experiments employing artificial, visual, prototype-structured stimuli constructed from twelve symbols positioned on a grid. The Ratio Rule is shown to be incorrect for these experiments, given the assumption that the magnitude terms for each category are univariate functions of the number of category-appropriate symbols contained in the presented stimulus. A connectionist winner-take-all model of categorical decision (Wills & McLaren, 1997) is shown to account for our data given the same assumption. The central feature underlying the success of this model is the assumption that categorical decisions are based on a Thurstonian choice process (Thurstone, 1927, Case V) whose noise distribution is not double exponential in form

Stages Of Discovery And Entrepreneurship

In an attempt at a systematic theory of entrepreneurship, this paper connects various literatures, from economics and business. In economics, there are many notions of entrepreneurship, some of which seem to contradict each other. For example, there are notions of entrepreneurship as an equilibrating and as a disequilibrating force. In this paper, these differences are connected with the issue of exploitation and exploration from the business literature. The question is how one can explore while maintaining exploitation. For this, a cycle of discovery has been proposed, with stages of equilibration and disequilibration which build on each other, in process where exploitation leads to exploration. It is proposed that different notions of entrepreneurship can be associated with different stages of that cycle. In this way, different types of entrepreneurship complement each other in an ongoing process of discovery