Knightian Uncertainty in Entrepreneurship Research: Retrospect and Prospect.
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| Authors: | Dorobat, Carmen-Elena1 (AUTHOR) c.dorobat@mmu.ac.uk, McCaffrey, Matthew2 (AUTHOR), Foss, Nicolai J.3 (AUTHOR), Klein, Peter G.4,5 (AUTHOR) |
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| Source: | Entrepreneurship: Theory & Practice. Sep2025, Vol. 49 Issue 5, p1392-1430. 39p. |
| Subject Terms: | *Entrepreneurship, *Decision theory, *Economic models, Interdisciplinary research, Epistemic uncertainty, Research management |
| Abstract: | While Knightian uncertainty (KU) has been central to entrepreneurship research for over half a century, there remains a lack of consensus on how to define, apply, and learn from the concept. We argue that, despite the apparent fragmentation of views and theories, there has been significant and valuable knowledge accumulation around KU that can inform entrepreneurship research. Reviewing 238 articles published over the past 60 years across seven disciplines, we find that (1) there is considerable congruity in how KU is discussed within, but not across, disciplines and at micro, meso, and macro levels of analysis; (2) cross-fertilization and integration of interdisciplinary insights exist but are insufficiently explored by entrepreneurship researchers; (3) progress in understanding and analyzing uncertainty may come primarily from multi-level, interdisciplinary analysis; and (4) entrepreneurship researchers may benefit from engaging the definitions and theories of uncertainty from neighboring fields like economics and decision science. We suggest a variety of research questions to unite different disciplines across levels of analysis to create a more integrated research agenda for KU in entrepreneurship studies. [ABSTRACT FROM AUTHOR] |
| Database: | Entrepreneurial Studies Source |
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| Header | DbId: ent DbLabel: Entrepreneurial Studies Source An: 186915457 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Dorobat%2C+Carmen-Elena%22">Dorobat, Carmen-Elena</searchLink><relatesTo>1</relatesTo> (AUTHOR)<i> c.dorobat@mmu.ac.uk</i><br /><searchLink fieldCode="AR" term="%22McCaffrey%2C+Matthew%22">McCaffrey, Matthew</searchLink><relatesTo>2</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Foss%2C+Nicolai+J%2E%22">Foss, Nicolai J.</searchLink><relatesTo>3</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Klein%2C+Peter+G%2E%22">Klein, Peter G.</searchLink><relatesTo>4,5</relatesTo> (AUTHOR) – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Entrepreneurship%3A+Theory+%26+Practice%22">Entrepreneurship: Theory & Practice</searchLink>. Sep2025, Vol. 49 Issue 5, p1392-1430. 39p. – Name: Subject Label: Subject Terms Group: Su Data: *<searchLink fieldCode="DE" term="%22Entrepreneurship%22">Entrepreneurship</searchLink><br />*<searchLink fieldCode="DE" term="%22Decision+theory%22">Decision theory</searchLink><br />*<searchLink fieldCode="DE" term="%22Economic+models%22">Economic models</searchLink><br /><searchLink fieldCode="DE" term="%22Interdisciplinary+research%22">Interdisciplinary research</searchLink><br /><searchLink fieldCode="DE" term="%22Epistemic+uncertainty%22">Epistemic uncertainty</searchLink><br /><searchLink fieldCode="DE" term="%22Research+management%22">Research management</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: While Knightian uncertainty (KU) has been central to entrepreneurship research for over half a century, there remains a lack of consensus on how to define, apply, and learn from the concept. We argue that, despite the apparent fragmentation of views and theories, there has been significant and valuable knowledge accumulation around KU that can inform entrepreneurship research. Reviewing 238 articles published over the past 60 years across seven disciplines, we find that (1) there is considerable congruity in how KU is discussed within, but not across, disciplines and at micro, meso, and macro levels of analysis; (2) cross-fertilization and integration of interdisciplinary insights exist but are insufficiently explored by entrepreneurship researchers; (3) progress in understanding and analyzing uncertainty may come primarily from multi-level, interdisciplinary analysis; and (4) entrepreneurship researchers may benefit from engaging the definitions and theories of uncertainty from neighboring fields like economics and decision science. We suggest a variety of research questions to unite different disciplines across levels of analysis to create a more integrated research agenda for KU in entrepreneurship studies. [ABSTRACT FROM AUTHOR] |
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| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1177/10422587251347062 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 39 StartPage: 1392 Subjects: – SubjectFull: Entrepreneurship Type: general – SubjectFull: Decision theory Type: general – SubjectFull: Economic models Type: general – SubjectFull: Interdisciplinary research Type: general – SubjectFull: Epistemic uncertainty Type: general – SubjectFull: Research management Type: general Titles: – TitleFull: Knightian Uncertainty in Entrepreneurship Research: Retrospect and Prospect. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Dorobat, Carmen-Elena – PersonEntity: Name: NameFull: McCaffrey, Matthew – PersonEntity: Name: NameFull: Foss, Nicolai J. – PersonEntity: Name: NameFull: Klein, Peter G. IsPartOfRelationships: – BibEntity: Dates: – D: 01 M: 09 Text: Sep2025 Type: published Y: 2025 Identifiers: – Type: issn-print Value: 10422587 Numbering: – Type: volume Value: 49 – Type: issue Value: 5 Titles: – TitleFull: Entrepreneurship: Theory & Practice Type: main |
| ResultId | 1 |
