Effectuation: elements of entrepreneurial expertise

By:

Sarasvathy, Saras D

Material type: Text

TextPublication details: Edward Elgar Publishing Limited Cheltenham 2022Edition: 2ndDescription: xxii, 303 pISBN:

9781839102592

Subject(s):

DDC classification:

658.421 SAR

Summary: To effectuate is to engage in a specific type of entrepreneurial action. It has special importance for situations where the future is truly unknowable or human agency is of primary importance. In this new and updated edition of the bestselling Effectuation, Saras Sarasvathy explores the theory and techniques of non-predictive control for creating new firms, markets and economic opportunities. Using empirical and theoretical work done in collaboration with Nobel Laureate Herbert A. Simon, the author employs methods from cognitive science and behavioral economics to develop the notion of entrepreneurial expertise and effectuation. Supportive empirical evidence is provided by the author’s study of 27 entrepreneurs as well as other independent studies. The book then traces the consequences of effectuation for business management, economics and social philosophy. The author finds that effectuators generate constraint-satisfying solutions rather than searching for optimal ones, make rather than find opportunities, and in a deep sense, convert ‘as-if’ propositions into ‘even-if’ ones. The way they accomplish this is the central discussion of the book. Students and scholars of entrepreneurship will find this path-breaking research of great value. The book’s conclusions will also be of interest to those in the fields of behavioral and evolutionary economics, cognitive science and management. (https://www.e-elgar.com/shop/gbp/effectuation-9781839102592.html)

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	Indian Institute of Management LRC General Stacks	Public Policy & General Management	658.421 SAR (Browse shelf(Opens below))	1	Available		006214

To effectuate is to engage in a specific type of entrepreneurial action. It has special importance for situations where the future is truly unknowable or human agency is of primary importance. In this new and updated edition of the bestselling Effectuation, Saras Sarasvathy explores the theory and techniques of non-predictive control for creating new firms, markets and economic opportunities.

Using empirical and theoretical work done in collaboration with Nobel Laureate Herbert A. Simon, the author employs methods from cognitive science and behavioral economics to develop the notion of entrepreneurial expertise and effectuation. Supportive empirical evidence is provided by the author’s study of 27 entrepreneurs as well as other independent studies. The book then traces the consequences of effectuation for business management, economics and social philosophy. The author finds that effectuators generate constraint-satisfying solutions rather than searching for optimal ones, make rather than find opportunities, and in a deep sense, convert ‘as-if’ propositions into ‘even-if’ ones. The way they accomplish this is the central discussion of the book.

Students and scholars of entrepreneurship will find this path-breaking research of great value. The book’s conclusions will also be of interest to those in the fields of behavioral and evolutionary economics, cognitive science and management.

(https://www.e-elgar.com/shop/gbp/effectuation-9781839102592.html)

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