When Should Entrepreneurs Expedite or Delay Opportunity Exploitation?

• Main Authors: CHOI, Young Rok, Levesque, Moren, Shepherd, D. A.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2008
• Subjects: Opportunity exploitation; Ignorance reduction; Knowledge management; Timing of exploitation; Optimal stopping; Entrepreneurial and Small Business Operations
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/1414; https://doi.org/10.1016/j.jbusvent.2006.11.001
• Institution: Singapore Management University

We theorize on the performance implications of the timing at which entrepreneurs stop exploring their business opportunities and start exploiting them. Using an optimal-stopping approach, we characterize the time when exploitation should begin based primarily on when an entrepreneur's ignorance...