ADM 2313 Lecture Notes - Lecture 3: Fundamental Attribution Error, Arbitrage

• School: University of Ottawa
• Department: Administration
• Course: ADM 2313
• Professor: Mark Freel

Document Summary

Economic writers and theorists : the economic approach. Psychological characteristics of the entrepreneur: the traits approach. General tendency to explain the behaviour of others as a function of their personality rather than the situation. Empirical research has failed to agree on characteristics distinguishing entrepreneurs from other business persons or from pop as a whole. Risk taking, ambition, need for achievement, desire for independence, internal locus of control, conceptual, energy, leadership, self-(cid:272)onfiden(cid:272)e, (don"t define entrepreneurship, (cid:271)ut great success in general. ) In order to define something need to define what it is, but also what it isn"t at the same time. Definition has to define entrepreneurs but be distinct from others. What are they: underlying assumption related to individual consistency in expressing a trait. Ignores the impact of situational variables in modifying an individual"s behaviourthis is keyentrepreneurship is embedded in context: propagates the myth of the "entrepreneurial hero" (individualizes entrepreneurship) We see different supply and demands of entrepreneurship across different environments.