We examine how entrepreneurs can search deliberately for discoveries. We use consideration sets to impose constraints on how and where they search. A consideration set is a promising set of information channels, which entrepreneurs can select and search based on prior knowledge. To decide how to search the channels in a consideration set, we apply existing mathematical formalism to illustrate a maximal search sequence. Because there is some probability that a search sequence could continue indefinitely, we determine stopping rules. We argue that entrepreneurial search is more feasible within a consideration set than it is in the rest of the world.
Small Business Economics – Springer Journals
Published: Jun 20, 2004
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