Abstract
The institutional environment—with its potential uncertainty—in which an entrepreneur chooses to operate plays a key role in how entrepreneurs evaluate opportunities, yet opportunity evaluation research rarely takes this into account. We evaluate the fragmented nature of the research to date and develop a comprehensive typology. Through consideration of variations in an entrepreneur’s motivation and knowledge and drawing on institutional economics theory, our typology has four potential responses: (1) institutional entrepreneurship, (2) institutional bricolage, (3) institutional avoidance, and (4) institutional bridging. We introduce the institutional bridging construct and provide a deeper understanding of opportunity evaluation and institutional uncertainty.
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