New market creation through transformation
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Authors
Sarasvathy, Saras D.
Dew, Nicholas
Subjects
New market creation
Effectuation
Networks
Entrepreneurship
Effectuation
Networks
Entrepreneurship
Advisors
Date of Issue
2005
Date
Publisher
Language
Abstract
Is newmarket creation a search and selection process within the theoretical
space of all possible markets? Or is it the outcome of a process of transformation
of extant realities into new possibilities? In this article we consider new market
creation as a process involving a new network of stakeholders. The network is initiated
through an effectual commitment that sets in motion two concurrent cycles
of expanding resources and converging constraints that result in the new market.
The dynamic model was induced from two empirical investigations, a cognitive
science-based investigation of entrepreneurial expertise, and a real time history of
the RFID industry.
Type
Article
Description
The article of record as published may be found at http://dx.doi.org/10.1007/s00191-005-0264-x
Series/Report No
Department
Graduate School of Business and Public Policy (GSBPP)
Organization
Identifiers
NPS Report Number
Sponsors
Funder
Format
Citation
Journal of Evolutionary Economics, Vol. 15, 2005
Distribution Statement
Rights
This publication is a work of the U.S. Government as defined in Title 17, United States Code, Section 101. Copyright protection is not available for this work in the United States.