Falling Forward: Real Options Reasoning and Entrepreneurial Failure
用实物期权推理来平衡看待创业失败在财富创造中的作用，强调通过追求高方差结果但只在条件有利时投资来管理不确定性，从而在控制成本的同时增加盈利潜力。
Although failure in entrepreneurship is pervasive, theory often reflects an equally pervasive antifailure bias. Here, I use real options reasoning to develop a more balanced perspective on the role of entrepreneurial failure in wealth creation, which emphasizes managing uncertainty by pursuing high-variance outcomes but investing only if conditions are favorable. This can increase profit potential while containing costs. I also offer propositions that suggest how gains from entrepreneurship may be maximized and losses mitigated.