Working Paper: CEPR ID: DP15972
Authors: Arnaldo Camuffo; Alfonso Gambardella; Danilo Messinese; Elena Novelli; Emilio Paolucci; Chiara Spina
Abstract: This large-scale replication of Camuffo et al. (2020) - 759 firms in 4 randomized control trials - confirms that a scientific approach to entrepreneurial decisions can be taught and leads to superior results. The paper yields novel contributions. First, the adoption of a scientific approach generates fewer pivots, which is associated with higher performance. Second, it develops a theoretical framework that sheds light on the underlying mechanisms: methodic doubt (greater caution) and efficient search (better information). We show that fewer pivots imply that, in our sample, the former mechanism dominates. Third, results are robust to the use of a measure of the adoption of the scientific approach instrumented by the treatment, and to models that account for the joint determination of variables.
Keywords: entrepreneurship
JEL Codes: L21; L26; M13; M21
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| scientific approach (C90) | likelihood of project termination (H43) |
| scientific approach (C90) | number of radical pivots (C69) |
| scientific approach (C90) | performance outcomes (L25) |
| treatment assignment (C90) | scientific approach (C90) |