Publications

Working Paper

Prior research suggests that firms in entrepreneurial settings benefit from a scientific approach to decision making that combines cognitive and evidence-based components. But to what extent and under what conditions is the scientific approach to decision-making associated with superior performance?

To address this question, the authors conducted a field experiment with 261 UK entrepreneurs at different stages of business development, training half of them on a scientific approach to decision making. The results show that firms make the most of scientific decision-making when they are at a more advanced stage of development, as they generate higher revenues and productivity. The authors elaborate on the mechanisms behind this result and the implications for future research.

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