We propose a partial theory explaining the processing of opportunities by individuals in organizations, specifically for opportunities with both commercial and moral significance (measured as intensities). The goal of such theorizing is to identify and analyze the range of interactions that the...

In this exploratory study, we challenge real decision makers to make choices in strategic games involving ambiguity, and to rationalize those choices. Such games are unique because they are not optimizable; however, the challenge such decisions represent-making choices over irreversible resource...

With this research, we contribute to the study of ambiguity by analyzing how it can be handled in a rational, objective manner across the main strategic decision-making contexts that entrepreneurs and organizations face. Differentiating from most previous managerial and entrepreneurial studies,...

We provoke. In this conceptual piece, we challenge the value of two dominant models of the entrepreneurial process that have existed over the past two decades-the creativity school and the logic of effectuation. We point out their weaknesses and their unfulfilled promises, and we argue for the...

We propose a new theory of the firm based on the premise that "the firm" characterizes a factor-integrative form of doing business that is often the most effective and efficient structure for doing well by doing bad. We define the terms and requirements involved for such a theory, and fulfill...