Abstract

The paper seeks to explore the role of experience in the use of decision heuristics by entrepreneurs An exploratory mixed-methods study incorporating qualitative and quantitative data and generating propositions to guide future research and practice The findings suggest that expert entrepreneurs use heuristics frequently in relation to the evaluation of opportunities but novice entrepreneurs use much less heuristics in their decision making Being an exploratory study of a relatively small sample the findings are tentative and not generalized to a wider population However the study implies that future researchers should explore these topics in greater depth This study is one of the first studies to explore the complex role played by experience in the use of heuristics by entrepreneurs The study also adopts an original approach by assuming that heuristics may be effective