How can biases affect entrepreneurial decision making? toward a behavioral approach to unicorns

Abstract How can cognitive biases affect the birth and evolution of entrepreneurial ventures? In Entrepreneurial Decision Making (EDM), this lively research question remains largely unaddressed when world Unicorns, as a per se species, is considered. Thus, through conceptual article, we aim to contribute toward knowledge creation in context. We start by proposing framework Unicorns’ EDM based on behavioral approach. Through three propositions, novel advances how , transition consolidation Unicorn may be explained sequentially intertwined occurrence biases, from which establishment legitimization eventually emerge. complement with examples social media industry then discuss its main implications for theory practice.