Entrepreneurial Hustle: Navigating Uncertainty and Enrolling Venture Stakeholders through Urgent and Unorthodox Action

Entrepreneurs need to act under conditions of uncertainty and resource constraints to bring new, often-unrecognizable products to market and convince an unknown set of stakeholders to support their endeavours. The type of action entrepreneurs take to navigate uncertain entrepreneurial contexts is underspecified. We analysed 48 interviews with entrepreneurs to inductively identify an action-oriented construct we labelled as entrepreneurial hustle – an entrepreneur’s urgent, unorthodox actions that are intended to be useful in addressing immediate challenges and opportunities under conditions of uncertainty. In a follow-up study, we use an experimental vignette approach to assess the impact of an entrepreneur’s hustle on venture stakeholders. Findings suggest that entrepreneurial hustle positively influences stakeholder perceptions of the entrepreneur’s leadership effectiveness and a venture’s legitimacy, mediated by perceptions of the entrepreneur’s ability-based trustworthiness. We conclude that entrepreneurial hustle is a fundamental behaviour that enables entrepreneurs to enrol new venture stakeholders and lead their entrepreneurial efforts.     

Some Reflections on the Spatial Dimensions of Occupational Segregation

This paper considers the role that urban spatial structure may play in the process of occupational segregation, and argues that neoclassical economic models of urban employment and residential location decisions have not considered the relationship between gender-based labor market status and space. The paper provides a critical feminist perspective on how conventional urban models have been used to explain patterns of segregation, and suggests reasons for limitations in existing theoretical and empirical analysis. It also explores ways in which economists can draw on work in other disciplines to develop fuller and more useful models of the relationship between urban spatial structure and occupational segregation.     

Crime and Racial Composition in Contiguous Communities as Negative Externalities: Prejudiced Household's Evaluation of Crime Rate and Segregation Nearby Reduces Housing Values and Tax Revenues

Abstract . How the level of amenities in surrounding communities affects the residential location decisions of households is considered. The amenities specifically taken into account are the crime and racial composition of the household's community and the contiguous communities. The theory of the household's valuation of neighborhood amenities through a housing value equation is expanded to include how the household's valuation of amenities is affected by the amenities in surrounding areas. An empirical model using data for 71 suburban communities in the Chicago Standard Metropolitan Statistical Area is specified to measure the simultaneous interaction between housing values, crime, and police effort. A revenue equation is included to determine how the household's valuation of crime and racial composition could affect the community's revenue-raising ability. The empirical results indicate that the crime and racial composition of surrounding communities as well as within the household's community have a statistically significant negative effect on housing values. While the magnitude of the effect is small, the empirical results suggest that households consider the crime rate and racial composition of surrounding communities as negative externalities.     

The Ultimatum Game: Optimal Strategies without Fairness

The ultimatum game is simple and this facilitates its use in the study of predictions of game theory. Experimental evidence suggests that it does not predict individual behavior well, unless individuals gain welfare from fairness in transactions, or have expectations about some wider game. Our model excludes any notion of fairness by including (potential) rivalry in transactions. In this game the proposer's expectations yield outcomes that are consistent with experimental evidence. Offers can be large or small, with none in an intermediate range. The consequent distribution appears in dictator game experiments. Our model explains how it is generated by expectations.Journal of Economic LiteratureClassification Numbers: C72, D82, D84.