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,...

The existence of ambiguity presents a challenge to decision-makers as it eliminates the ability to apply standard optimization approaches, such as those based on calculating the objective expected values of alternative actions. In reality, ambiguity arises in most strategically important...

NK models are agent-based simulations of market evolution generated through new entry and firm innovation, and are often focused on better understanding complex interdependencies in organizational phenomena. We provide a counterpoint to the mostly optimistic descriptions of the advantages and of...

It may be surprising that one of the most popular compensation schemes in business is so open to being hacked - to having managers cheat to win. We explore tournament theory to detail its vulnerabilities to various forms of cheating unilateral and multilateral. We identify who is most likely to...

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...