Abstract
In our paper, we investigate the role of cognition and risk preferences on the pathway to intentionality. Based on recent developments in the fields of cognitive theory and risk, we propose a new model that directly questions the “rationality” underlying traditional models of intentions based on the theory of planned behavior. In particular, we contest the assumption that perceptions of feasibility are independent of perceptions of desirability, and that intentions are the final dependent variable of the process. Our findings support our proposed model, constituting evidence against the descriptive value of traditional models of entrepreneurial intentions.