Personality, Cognitive Bias and Entrepreneur Decision-making

DOI

10.2991/aebmr.k.220603.073How to use a DOI?

Keywords

cognitive bias; decision-making; entrepreneurship; personality

Abstract

When people talk about the necessary features of being a successful entrepreneur, one of the most important characteristics is the ability to make decisions with limited information. However, the decision-making process is easily influenced by many cognitive biases, especially for entrepreneurs, a group of people normally considered to have different personalities than others. The discussion about personalities has been one of the classical and early approaches to entrepreneurship for nearly a century. Although numerous studies have explored the personality impact on entrepreneurs’ decision-making and discussion about cognitive biases are also frequently considered in entrepreneurial studies, there are not so many studies linking these factors together to entrepreneurship decision-making. An amount of entrepreneurial-related literature is used and reviewed in this paper, trying to provide a basic scope of impacts on personalities and cognitive biases to those people interested in entrepreneur decision-making studies. This study found that the influence of personality and cognitive bias on entrepreneurs’ decision-making is not completely independent and irrelevant. On the contrary, the two factors are very similar and interdependent. The findings of this article highlight the significance of properly understanding the entrepreneur’s personality and cognitive biases in the entrepreneurial decision-making process.

Copyright

© 2022 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article distributed under the CC BY-NC 4.0 license.

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TY  - CONF
AU  - Yang Han
PY  - 2022
DA  - 2022/07/01
TI  - Personality, Cognitive Bias and Entrepreneur Decision-making
BT  - Proceedings of the 2022 2nd International Conference on Enterprise Management and Economic Development (ICEMED 2022)
PB  - Atlantis Press
SP  - 447
EP  - 454
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.220603.073
DO  - 10.2991/aebmr.k.220603.073
ID  - Han2022
ER  -