Purpose – To define the links between cognition and entrepreneurial behavior by highlighting the problem of complexity in the difficult trade-off between discovery of new opportunities and exploitation of current opportunities.
Methodology/approach – To interrelate Austrian tools (Hayek, Kirzner, Lachmann) with lessons from experimental economics.
Research limitations and implications – This contribution enters the world of entrepreneurship to show where the mental rigidities opposing discoveries lie.
Originality/value of paper – To use experimental economics to widen our understanding of entrepreneurship and invite the Austrian scholars to imagine other protocols that might deepen the analysis.
Aimar, T. (2011), "Cognitive Opening and Closing: Toward an Exploration of the Mental World of Entrepreneurship", Marsh, L. (Ed.) Hayek in Mind: Hayek's Philosophical Psychology (Advances in Austrian Economics, Vol. 15), Emerald Group Publishing Limited, Bingley, pp. 241-257. https://doi.org/10.1108/S1529-2134(2011)0000015017
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