Carlson School of Management
Integrating “traits” and “rates” perspectives on entrepreneurship, these researchers are creating a comprehensive, general framework for investigating how entrepreneurial activity is shaped by individuals and market opportunities. Proposing standard measures of opportunity potential (i.e., profitability implied by market transactions) and individual differences in market vision (i.e., relationships with market actors), they are developing signature predictions related to individuals, opportunities, and the intersection of the two. Analyses of a large online labor platform for independent contractors demonstrate how the framework can be applied across various settings to understand the fundamental transition that many freelancers make from self-employed to general contractor and/or organizational founder. Comparing both realized and unrealized opportunities of differing potential as well as different individuals exposed to the same opportunity demonstrates that profitability perceptions attract entrepreneurs and that individuals with superior vision are most likely to exploit such opportunities.