Palm | Kelapa Sawit

Here is one interesting study:

That is not to say entrepreneurs don't have goals, only that those goals are broad and–like luggage–may shift during flight. Rather than meticulously segment customers according to potential return, they itch to get to market as quickly and cheaply as possible, a principle Sarasvathy calls affordable loss.

Repeatedly, the entrepreneurs in her study expressed impatience with anything that smacked of extensive planning, particularly traditional market research. (Inc.'s own research backs this up.

One survey of Inc. 500 CEOs found that 60 percent had not written business plans before launching their companies. Just 12 percent had done market research.)

…Sarasvathy explains that entrepreneurs' aversion to market research is symptomatic of a larger lesson they have learned: They do not believe in prediction of any kind. "If you give them data that has to do with the future, they just dismiss it," she says.

"They don't believe the future is predictable…or they don't want to be in a space that is very predictable."

The article is interesting throughout and hat tip goes to The Browser.

by Tyler Cowen (marginalrevolution.com)