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      Unsticking the rationality stalemate: Motivated reasoning, reality, and irrationality

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      Embargo Lift Date: 2025-02-13
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      Author(s)
      Kurdoglu, Rasim Serdar
      Lerner, D
      Ates, N. Y.
      Date
      2022-08-21
      Source Title
      Journal of Business Venturing Insights
      Electronic ISSN
      2352-6734
      Publisher
      Elsevier Inc.
      Volume
      18
      Pages
      e00336- 1 - e00336- 8
      Language
      English
      Type
      Article
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      Abstract
      Rationality is an elusive and increasingly debated concept in entrepreneurship research. We offer a novel conceptualization of rationality based on reasoning motivations. We posit that logical, probabilistic, and heuristic reasoning logics are motivationally rational because the decision-maker attempts to accurately perceive the external world and problem-solve (even if rapidly and approximately). By contrast, when the reasoning ignores an assessment of reality and accuracy in problem-solving and instead is deluded by psychological (e.g., hedonic) urges that prompt self-serving inferences, we categorize such decisions as motivationally irrational. We develop a theoretical account for how motivational irrationality is adaptive under extreme uncertainty as it enables entrepreneurs to dare action when even heuristic reasoning is inconclusive or entirely ineffective.
      Keywords
      Business venturing
      Irrationality
      Uncertainty
      Entrepreneurial decision-making
      Entrepreneurial action theory
      Permalink
      http://hdl.handle.net/11693/111215
      Published Version (Please cite this version)
      https://doi.org/10.1016/j.jbvi.2022.e00336
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