Two theories of entrepreneurial action - Discovery Theory and Creation Theory - are discussed. While Discovery Theory and its assumptions have been addressed in the literature, neither the assumptions of Creation Theory nor how they are related to the assumptions of Discovery Theory have yet...

There are three kinds of decision making environments with less than perfect information about the outcome of a decision that vary in the extent to which the information available to decision makers is imperfect. A decision making setting is defined as risky when both the possible outcomes, and...