Perceptions of Efficacy, Control and Risk: A Theory of Mixed Control

Based on the aggregated insights of the existing theories related to multiple sources of efficacy and locus of control, we introduce the theory of mixed control, a model of compound-risk perception. This theory considers outcome expectancies as being composed of expectancies regarding three distinct sources of risk (self, others, and chance). This reflects that entrepreneurship is a complex and dynamic activity, involving multiple sources of risk. Beliefs about the efficacy of these elements are weighted by the degree to which these elements are perceived to control the outcome. The interaction of efficacy and control beliefs is therefore at the core of our theory. Further, we discuss that risks are not only subjectively perceived but can be endogenous and depend on future decisions and actions of the entrepreneur

Perceptions of Efficacy, Control and Risk: A Theory of Mixed Control

We prove a multivariable elliptic analogue of Jackson’s 8W7 summation formula, which was recently conjectured by S. O. Warnaar

Psychological perspective on Entrepreneurship

Østergaard, Santos, and Costa argue that entrepreneurship is increasingly perceived as a lifestyle and underscore the importance of understanding how entrepreneurial activities influence and are influenced by the entrepreneurs’ well-being. Through the lenses of well-being theories, building on the eudaimonic and hedonic dimensions of well-being, Østergaard et al. put forward a general framework to inspire future research and practice in entrepreneurship grounded on the psychological theory of well-being. According to Østergaard et al., integrating theories of well-being from psychology into entrepreneurship research is necessary to understand the impact of entrepreneurship on individuals’ mental health, promote quality of life, understand the motivations underlying entrepreneurial behavior, and further understand how entrepreneurs change their environment, discover opportunities, and advance societies in innovative ways