Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/177668 
Year of Publication: 
2017
Series/Report no.: 
Tinbergen Institute Discussion Paper No. 17-100/VII
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
Abstract: 
We examine in a large survey (n = 1,928) how contemplative entrepreneurs, managers and employees are in their decision making styles. Besides two well-known subjective measures taken from psychology, we also build on Rubinstein (2016) by including two objective measures derived from response times and the nature of the strategic choices made. Supporting conventional wisdom, we find that entrepreneurs have a stronger subjective Faith in Intuition than others. Their actual action choices are partly in line with this: entrepreneurs make indeed more intuitive choices than managers, but are equally intuitive as employees. At the same time entrepreneurs have response times and a subjective Need for Cognition that (on average) equal those of managers. Together these findings tentatively suggest that entrepreneurs start from a stronger prior intuition, making them ceteris paribus more intuitive than others, but at the same time share with managers a higher need for cognition, and thus take more time to think things over.
Subjects: 
Response times
contemplativeness
faith in intuition
need for cognition
entrepreneurs
managers
lab-in-the-field experiment
JEL: 
L26
C93
D91
M13
Document Type: 
Working Paper

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