Affordable loss heuristic: scale development and validation

What is it about?

This study achieves the development of a validated method to study affordable loss, a decision heuristic used by entrepreneurs. It demonstrates the rigor applied to achieve the most frugal way to measure this heuristic, showing that entrepreneurs of all business stages invest resources so that they are prepared to lose affordably to gain and use an experimental approach while doing so. Researchers can trust this scale to study the affordable loss heuristic.

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