This thesis presents a conceptual and empirical investigation of
why some individuals and not others enact opportunities. It takes a
distinct view of opportunities - enacted possibilities of economic
gain - thereby bridging economics and psychology perspectives. In
the developed theoretical model, opportunity enactment is an ideal
type construct involving distinct configurations of information
context, learning style, and specific human capital. Three
categories of information context - demand-driven, supply-driven,
and replication-driven - capture the environmental requirements
imposed on individuals in conceiving of future possibilities.
Learning style and specific human capital convey the uniqueness of
an individual's prior experience. The former represents a developed
pattern of interaction with one's environment, while the latter
reflects one's stock of domain-specific knowledge. The model is
tested in an experimental setting and further corroborated with
data from the Panel Study of Entrepreneurial Dynamics. The thesis
outlines a number of theoretical and methodological contributions,
directions for future research, and implications for practice.
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