ABSTRACT
This chapter considers the nature of decision making under uncertainty, entrepreneurial strategy, and the effects of over-optimism. It considers entrepreneurship as a process that couples investments with the gaining of information. Part of this is the fairly standard story of real options reasoning; under which many entrepreneurs start small, with expansion following on from early success. However, there are further issues to be considered about how the entrepreneur is to design strategies that efficiently probe the market and about the very nature of the information process involved.
