Why We Need Normative Theories of Entrepreneurial Learning That Go Beyond Bayesianism

Timo Ehrig, Nicolai J. Foss*

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

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Zellweger and Zenger's (ZZ) article, “Entrepreneurs as scientists: A pragmatist approach to producing value out of uncertainty,” represents a potentially influential contribution to the understanding of decision making under uncertainty. This short paper points to two major problems in their article: it 1) seeks to reduce uncertainty to risk and ignores the problem of unknown unknowns, and 2) does not identify the key inferential problem of linking the few current data points known by an entrepreneur to her imagination as it pertains to an unknowable future. We point to devising alternative models of learning that have the potential to overcome these problems as a research effort that should be prioritized within the emerging field of entrepreneurial learning.
Original languageEnglish
Article numbere00335
JournalJournal of Business Venturing Insights
Number of pages5
Publication statusPublished - Nov 2022


  • Entrepreneurial learning
  • Bayasianism
  • Knightian uncertainty
  • Inferential problems

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