Abstract

Fiet (2007) argued that prior specific knowledge can contribute to entrepreneurs’ opportunity discovery and exploitation through constrained systematic search. Entrepreneurs utilize this technique to search information channels consisting of prior knowledge, increasing the quality of venture idea (Fiet & Patel, 2006). We, however, point out that power imbalance can have an impact on how information is accessed. We investigate how both prior knowledge and power can improve systematic search through conjoint experiment. Thus, in this paper, we address entrepreneurs’ decisions to search for opportunities by linking resource dependence theory and informational economics.

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