Abstract

What drives entrepreneurs despite lower financial returns and various setbacks? Researchers have mainly studied why entrepreneurs deviate from optimal decisions; risk propensity, optimism, and overconfidence represent such factors. We offer another perspective to capture the drivers of entrepreneurship, using a hedonic psychology framework. We analyzed entrepreneurs’ blog diaries and examined a series of decisions and their contexts. We suggest that entrepreneurs make rational decisions to maximize their happiness and well-being, and they engage in certain activities to manipulate their happiness level. This study contributes to entrepreneurship research by suggesting alternative drivers of entrepreneurship: contentment and happiness.

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