Why Do “Scientific” Entrepreneurs (Successfully) Take More Time to Act? Evidence from a Field Experiment

Venue: Aula Kessler, Department of Sociology and Social Research, via G. Verdi 26, Trento
Time: 2 PM
Speaker:

• Arnaldo Camuffo - Bocconi University

Abstract

This study examines the impact of a scientific approach to decision-making on early-stage entrepreneurial firms. We argue that if entrepreneurs formulate their problems clearly, develop theories about the implications of their actions, and test these theories, they can make better decisions. Specifically, our theory predicts that “scientific” entrepreneurs: (i) exit earlier rather than later; (ii) pivot earlier; (iii) start earning revenues later. We test these predictions by embedding a field experiment in a pre-accelerator program, and treat entrepreneurial teams by training them on how to use a scientific approach to business development. The control group receives the same type of training, but is not taught to use the scientific approach. Our results are consistent with our predictions.  

Discussants:

- Valeria Fanghella - PhD student, Economics and Management

- Lucas Sage - PhD student, Sociology and Social Research