Table of Contents

Neuroeconomics and the Firm

Neuroeconomics and the Firm

Edited by Angela A. Stanton, Mellani Day and Isabell M. Welpe

The ideal firm has been studied over several centuries, yet little is known about what makes one successful and another fail. This pioneering book brings together leading researchers investigating the concept of the firm from a neuroscientific perspective.

Chapter 11: Mapping Neurological Drivers to Entrepreneurial Proclivity

Robert Smith

Subjects: business and management, entrepreneurship, strategic management, economics and finance, behavioural and experimental economics, economic psychology

Extract

Robert Smith INTRODUCTION The topic of this chapter is interesting both from a theoretical and practical perspective because our understanding of the intricacies and nuances of neurobiological and endocrinal influences upon entrepreneurial proclivity, and thus behavior, are in their infancy. From a theoretical perspective many exciting possibilities for explaining entrepreneurial behavior abound. New theories, models and frameworks will undoubtedly emerge. These may well have practical applications in terms of how we seek to explain entrepreneurial behavior. This particular chapter contributes by combining many strands of neurobiological research and synthesizing them with entrepreneurship research. As such, the chapter will be of interest to entrepreneurship scholars and those in the scientific community interested in neurobiology but who may have a sketchy notion of what entrepreneurship is or is not. It may also be of interest to a broad range of social scientists because it relates to the practical application of cross-disciplinary theory. As a new(ish) academic discipline, entrepreneurship has been said to suffer from science envy. As entrepreneurship research continues to mature, it is self-evident that its frontiers will require constant remapping as we continue to learn more and more about this societally eulogized cognitive behavior. Despite the fact that trait research has been somewhat disparaged of late in the social sciences, our knowledge of behaviorism continues to expand since trait researchers first began to chart the visible manifestations of entrepreneurial behavior in the form of trait and personality theories. Trait research operates at the level of what Shane (2003) refers...

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