The Systematic Nature of Serendipity in Opportunity Discovery: Implications for the Theory of Entrepreneurship

• Main Authors: KOTHA, Reddi, DIMOV, Dimo, GEORGE, Gerard
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2006
• Subjects: Entrepreneurial and Small Business Operations; Strategic Management Policy
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/228; https://ink.library.smu.edu.sg/context/lkcsb_research/article/1227/viewcontent/Babson2006serendipityfinal__1_.pdf
• Institution: Singapore Management University

This paper endeavors to disentangle search from serendipity in discoveries of new opportunities. Whereas economic models focus on active search and the tradeoff between its costs and benefits, the Austrian economic tradition posits that individuals do not search for opportunities; it is their alertn...