Escaping the green prison: Entrepreneurship and the creation of opportunities for sustainable development |
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Authors: | Desirée F Pacheco Thomas J Dean David S Payne |
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Institution: | 1. Portland State University, School of Business Administration, P.O. Box 751, Portland, OR 97207-0751, United States;2. Colorado State University, Department of Management, 225 Rockwell Hall, Ft Collins, CO 80523-1275, United States;3. University of Colorado-Boulder, Leeds School of Business, 419 UCB, Boulder, CO 80309-0419, United States |
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Abstract: | While entrepreneurial activity has been an important force for social and ecological sustainability; its efficacy is dependent upon the nature of market incentives. This limitation is sometimes explained by the metaphor of the prisoner's dilemma, which we term the green prison. In this prison, entrepreneurs are compelled to environmentally degrading behavior due to the divergence between individual rewards and collective goals for sustainable development. Entrepreneurs, however, can escape from the green prison by altering or creating the institutions—norms, property rights, and legislation—that establish the incentives of competitive games. We provide a variety of evidence of such entrepreneurial action and discuss its implications for theory and practice. |
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Keywords: | Sustainable development Institutional economics Prisoner's dilemma Sustainable entrepreneurship Creation entrepreneurship |
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