From Goldilocks to Gump: entrepreneurial mechanisms for everyday entrepreneurs

Saras D. Sarasvathy; William Forster; Anusha Ramesh

doi:10.14211/regepe.v9i1.1803

Authors

Saras D. Sarasvathy University of Virginia
William Forster Willamette University https://orcid.org/0000-0001-5237-4408
Anusha Ramesh Willamette University https://orcid.org/0000-0003-1032-2284

DOI:

https://doi.org/10.14211/regepe.v9i1.1803

Keywords:

Characteristics of entrepreneurs, Effectuation, History of Behavioral, Experimental Economics

Abstract

In this essay we argue that the exclusive focus on research aimed at isolating the characteristics of entrepreneurs as opposed to others, while intellectually exciting and even practically valuable, may have blinded us to another wholly new and exciting possibility – namely, the design of mechanisms that allow all kinds of individuals to start new ventures and provide useful and valuable tools to enable them and their stakeholders to build enduring organizations. The research stream on effectuation has identified a few of these mechanisms. By showing where effectuation may be located within the history of behavioral and experimental economics, we were led to the outline of at least three more mechanisms that could open the door to an entirely new research agenda on entrepreneurial mechanisms design that parallels the effort in experimental economics on economic systems design.

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Author Biographies

Saras D. Sarasvathy, University of Virginia

Professor Saras D. Sarasvathy is a member of the Strategy, Entrepreneurship and Ethics area. In addition to MBA and doctoral courses in entrepreneurship at Darden, she teaches in doctoral programs in Europe, Asia, Latin America and Africa. In 2007, Sarasvathy was named one of the top 18 entrepreneurship professors by Fortune Small Business magazine. In 2013, Babson College awarded her an honorary doctorate for the impact of her work on entrepreneurship education. Most recently, in recognition of her active engagement with students, Sarasvathy became the 2015 Mead-Colley Honored Faculty from UVA.

William Forster, Willamette University

William Forster joins the Willamette MBA faculty fall semester 2018. Prior to his arrival at Willamette University, he served on the Lehigh University faculty for nine years. Professor Forster was also an Instructor of Management at the United States Air Force Academy and was awarded an Air Force Ph.D. Fellowship.

He has twelve years' experience as an Air Force officer and worked as both a financial and project manager in numerous technology-development programs. His research interests include the following:

Entrepreneurial Decision-Making
New Venture Teams
Business Ethics
Social Entrepreneurship

Anusha Ramesh, Willamette University

PhD, University of Virginia, Darden School of Business
FPM, IIM Bangalore
Master of Science (Hons) Physics and Bachelor of Engineering (Hons) Electronics and Instrumentation (Dual Degree) Birla Institute of Technology and Science, Pilani, India

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