Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments

Patricia ; Mia Christy ; Kumandang ; Cahyatih
International Journal of Business, Marketing, Econ... 📅 2024 Vol 1, No 1 🔗 DOI: 10.70142/ijbmel.v1i1.439
Abstract
This literature review explores how entrepreneurs act as pragmatic experimenters when navigating uncertainty, focusing on three interrelated cognitive processes: causal inference, feedback interpretation, and heuristic adaptation. Drawing on recent empirical and theoretical studies, the review synthesizes how entrepreneurs learn through iterative experimentation, adjust mental models based on ambiguous feedback, and develop heuristics to guide decision-making in unpredictable environments. The findings suggest that entrepreneurial success is often linked to adaptive learning strategies rather than predictive accuracy. This research contributes to a deeper understanding of bounded rationality and cognitive flexibility in entrepreneurial contexts, offering insights for future inquiry into how entrepreneurs balance action and learning under uncertainty.
Keywords
Entrepreneurial learning; Causal inference; Heuristic adaptation; Feedback interpretation; Uncertainty
How to Cite

Patricia, et al. (2024). Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments. International Journal of Business, Marketing, Economics & Leadership (IJBMEL), 1(1). https://doi.org/10.70142/ijbmel.v1i1.439

Patricia, Mia Christy; Kumandang, Cahyatih, "Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments," International Journal of Business, Marketing, Economics & Leadership (IJBMEL), vol. 1, no. 1, 2024.

Patricia, Mia Christy; Kumandang, Cahyatih. "Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments." International Journal of Business, Marketing, Economics & Leadership (IJBMEL), vol. 1, no. 1, 2024.

Patricia, Mia Christy; Kumandang, Cahyatih. "Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments." International Journal of Business, Marketing, Economics & Leadership (IJBMEL) 1, no. 1 (2024).

Patricia, et al. (2024) 'Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments', International Journal of Business, Marketing, Economics & Leadership (IJBMEL), 1(1). doi: 10.70142/ijbmel.v1i1.439.

Patricia, Mia Christy; Kumandang, Cahyatih. Entrepreneurs as Pragmatic Experimenters: A Literature Review on Causal Inference, Feedback Interpretation, and Heuristic Adaptation in Uncertain Environments. International Journal of Business, Marketing, Economics & Leadership (IJBMEL). 2024;1(1).

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