{"id":"https://openalex.org/W3121695995","doi":null,"title":"Cognitive Biases, Risk, Perception and Venture Formation: How Individuals Decide to Start Companies","display_name":"Cognitive Biases, Risk, Perception and Venture Formation: How Individuals Decide to Start Companies","publication_year":1999,"publication_date":"1999-01-01","ids":{"openalex":"https://openalex.org/W3121695995","mag":"3121695995"},"language":"en","primary_location":{"id":"mag:3121695995","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1513106","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1513106","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5103897765","display_name":"Mark Simon","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I177721651","display_name":"Oakland University","ror":"https://ror.org/01ythxj32","country_code":"US","type":"education","lineage":["https://openalex.org/I177721651"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Mark Simon","raw_affiliation_strings":["Oakland University - School of Business Administration - Dept. of Management and Marketing"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Oakland University - School of Business Administration - Dept. of Management and Marketing","institution_ids":["https://openalex.org/I177721651"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5103792411","display_name":"Susan M. Houghton","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I181565077","display_name":"Georgia State University","ror":"https://ror.org/03qt6ba18","country_code":"US","type":"education","lineage":["https://openalex.org/I181565077"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Susan M. Houghton","raw_affiliation_strings":["Georgia State University, Atlanta, Ga., USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Georgia State University, Atlanta, Ga., USA","institution_ids":["https://openalex.org/I181565077"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5055682780","display_name":"Karl F. Aquino","orcid":"https://orcid.org/0000-0003-0710-4120","observed_orcids":["https://orcid.org/0000-0003-0710-4120"]},"institutions":[{"id":"https://openalex.org/I86501945","display_name":"University of Delaware","ror":"https://ror.org/01sbq1a82","country_code":"US","type":"education","lineage":["https://openalex.org/I86501945"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Karl Aquino","raw_affiliation_strings":["University of Delaware - Alfred Lerner College of Business and Economics"],"raw_orcid":"https://orcid.org/0000-0003-0710-4120","affiliations":[{"raw_affiliation_string":"University of Delaware - Alfred Lerner College of Business and Economics","institution_ids":["https://openalex.org/I86501945"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":168,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10058","display_name":"Entrepreneurship Studies and Influences","score":0.6273999810218811,"subfield":{"id":"https://openalex.org/subfields/1405","display_name":"Management of Technology and Innovation"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10058","display_name":"Entrepreneurship Studies and Influences","score":0.6273999810218811,"subfield":{"id":"https://openalex.org/subfields/1405","display_name":"Management of Technology and Innovation"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.36570000648498535,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14465","display_name":"Leadership, Behavior, and Decision-Making Studies","score":0.003100000089034438,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cognitive-bias","display_name":"cognitive biases","score":0.8289999961853027},{"id":"https://openalex.org/keywords/entrepreneurial-decision-making","display_name":"entrepreneurial decision-making","score":0.7080000042915344},{"id":"https://openalex.org/keywords/venture-formation","display_name":"venture formation","score":0.7829999923706055},{"id":"https://openalex.org/keywords/risk-perception","display_name":"risk perception","score":0.9340000152587891},{"id":"https://openalex.org/keywords/law-of-small-numbers","display_name":"law of small numbers","score":0.9729999899864197},{"id":"https://openalex.org/keywords/illusion-of-control","display_name":"illusion of control","score":0.9869999885559082},{"id":"https://openalex.org/keywords/risk-taking","display_name":"risk-taking","score":0.45399999618530273},{"id":"https://openalex.org/keywords/mba-students","display_name":"MBA students","score":0.47699999809265137}],"concepts":[{"id":"https://openalex.org/C2776601338","wikidata":"https://www.wikidata.org/wiki/Q17152789","display_name":"New Ventures","level":3,"score":0.6523644924163818},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6301451921463013},{"id":"https://openalex.org/C26760741","wikidata":"https://www.wikidata.org/wiki/Q160402","display_name":"Perception","level":2,"score":0.6296022534370422},{"id":"https://openalex.org/C163355716","wikidata":"https://www.wikidata.org/wiki/Q2154783","display_name":"Risk perception","level":3,"score":0.5800477266311646},{"id":"https://openalex.org/C169900460","wikidata":"https://www.wikidata.org/wiki/Q2200417","display_name":"Cognition","level":2,"score":0.5582503080368042},{"id":"https://openalex.org/C21279758","wikidata":"https://www.wikidata.org/wiki/Q219409","display_name":"Venture capital","level":2,"score":0.5581082701683044},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.5480154752731323},{"id":"https://openalex.org/C9272383","wikidata":"https://www.wikidata.org/wiki/Q5001930","display_name":"Business risks","level":2,"score":0.5205641388893127},{"id":"https://openalex.org/C84309077","wikidata":"https://www.wikidata.org/wiki/Q3908516","display_name":"Entrepreneurship","level":2,"score":0.49535122513771057},{"id":"https://openalex.org/C189216375","wikidata":"https://www.wikidata.org/wiki/Q1127759","display_name":"Cognitive bias","level":3,"score":0.4616692364215851},{"id":"https://openalex.org/C148116889","wikidata":"https://www.wikidata.org/wiki/Q1065707","display_name":"Illusion of control","level":2,"score":0.43411171436309814},{"id":"https://openalex.org/C98045186","wikidata":"https://www.wikidata.org/wiki/Q205663","display_name":"Process (computing)","level":2,"score":0.4310655891895294},{"id":"https://openalex.org/C184047640","wikidata":"https://www.wikidata.org/wiki/Q182593","display_name":"Illusion","level":2,"score":0.4277312159538269},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.42476266622543335},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.39291155338287354},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3116928040981293},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.2919512391090393},{"id":"https://openalex.org/C112930515","wikidata":"https://www.wikidata.org/wiki/Q4389547","display_name":"Risk analysis (engineering)","level":1,"score":0.14607545733451843},{"id":"https://openalex.org/C180747234","wikidata":"https://www.wikidata.org/wiki/Q23373","display_name":"Cognitive psychology","level":1,"score":0.11362448334693909},{"id":"https://openalex.org/C169760540","wikidata":"https://www.wikidata.org/wiki/Q207011","display_name":"Neuroscience","level":1,"score":0.0},{"id":"https://openalex.org/C111919701","wikidata":"https://www.wikidata.org/wiki/Q9135","display_name":"Operating system","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"mag:3121695995","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1513106","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},{"id":"pmh:oai:RePEc:eee:jbvent:v:15:y:2000:i:2:p:113-134","doi":null,"is_oa":false,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0883-9026(98)00003-2","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"mag:3121695995","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1513106","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2131759431","https://openalex.org/W2012967074","https://openalex.org/W2906408856","https://openalex.org/W4283737867","https://openalex.org/W2800552717","https://openalex.org/W2311803065","https://openalex.org/W169565506","https://openalex.org/W1529561393","https://openalex.org/W1605087136","https://openalex.org/W398671081"],"abstract_inverted_index":{"Previous":[0],"research":[1],"indicates":[2],"that":[3,26,72,115,162,178,192],"entrepreneurs":[4,23],"do":[5],"nothave":[6],"a":[7,55,62,76,90,158],"high":[8,134],"propensity":[9],"to":[10,29,39,83,88,103,124,167,199],"willingly":[11],"take":[12],"risks.":[13,33,137],"However":[14],"decisions":[15,197],"made":[16],"byentrepreneurs":[17],"often":[18],"come":[19],"with":[20,31,43],"risks":[21,44,127],"and":[22,41,100,129,196],"adopt":[24],"differentstrategies":[25],"help":[27],"them":[28],"cope":[30,42],"these":[32],"The":[34,69,112],"cognitive":[35,70,106],"strategiesadopted":[36],"by":[37],"individuals":[38,116,164],"perceive":[40,125],"inherent":[45],"in":[46,50,58,66,97,108,140,146],"theirdecisions":[47],"are":[48,165,205],"explored":[49],"this":[51],"study.":[52,68],"One-hundred-and-ninety-one":[53],"studentspursuing":[54],"Master's":[56],"degree":[57],"Business":[59],"Administration":[60],"at":[61],"major":[63],"publicuniversity":[64],"participated":[65],"the":[67,94,98,101,126,141,152,155,200,203],"process":[71],"individualsemploy":[73],"while":[74],"evaluating":[75],"new":[77,118,159,187],"business":[78],"venture":[79,99,204],"were":[80],"studied.":[81],"Participantsresponded":[82],"questions":[84],"focusing":[85],"on":[86],"willingness":[87],"start":[89,117],"venture,":[91,160],"theirperception":[92],"of":[93,136,143,151,154,194,202],"risk":[95,156,182],"involved":[96],"extent":[102],"which":[104],"theyexhibited":[105],"biases":[107],"their":[109,149,181],"decision-making":[110],"process.":[111],"findings":[113],"suggest":[114],"ventures":[119,188],"because":[120,131],"they":[121,132],"areless":[122],"likely":[123,166],"involved,":[128],"not":[130,190],"knowinglyaccept":[133],"level":[135,153],"Individuals":[138],"believed":[139],"law":[142],"small":[144,170],"numbers,which":[145],"turn":[147],"lowered":[148],"perceptions":[150],"associatedwith":[157],"suggesting":[161,184],"some":[163],"drawconclusions":[168],"from":[169],"samples.":[171],"Participants":[172],"also":[173],"exhibited":[174],"an":[175],"illusion":[176],"ofcontrol":[177],"effectively":[179],"reduced":[180],"perception,":[183],"thatindividuals":[185],"starting":[186],"may":[189],"acknowledge":[191],"outcomes":[193],"certaintasks":[195],"important":[198],"success":[201],"beyond":[206],"theircontrol.":[207],"(VRS)":[208]},"counts_by_year":[{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":14},{"year":2022,"cited_by_count":8},{"year":2021,"cited_by_count":15},{"year":2020,"cited_by_count":9},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":34},{"year":2017,"cited_by_count":10},{"year":2016,"cited_by_count":11},{"year":2015,"cited_by_count":8},{"year":2014,"cited_by_count":5},{"year":2013,"cited_by_count":7},{"year":2012,"cited_by_count":8}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2021-02-01T00:00:00"}
