Faculty Scholarship 1994 - Present
The Effects of Personality and Experience on Resource Acquisition Performance: An Experimental Study
Nexus theory (Venkataraman, 1997; Shane & Venkataraman, 2000; Shane, 2003) predicts that entrepreneurial behavior will result from an interaction of the quality of the opportunity and the entrepreneur's psychological characteristics and experience. In this paper, we utilized a laboratory bargaining experiment to partially test nexus theory, focusing exclusively on the resource acquisition phase of the entrepreneurial process. As predicted, we found that several relevant personality traits improved profit performance on a resource acquisition game but only for subjects with previous task experience. Specifically, risk-taking propensity, locus of control, creativity, and social astuteness interacted with task experience to determine participants' profits. Implications for entrepreneurial research and practice are discussed.