Affordable loss heuristic: scale development and validation
研究开发了一个两维度的可承受损失量表，包括不确定性下的损失启发法和实验心态，并通过验证性因子分析验证了其在不同地理背景下的不变性，有助于测量创业决策中的可承受损失构念。
Purpose The study aims to develop a distinct and parsimonious scale of affordable loss. The affordable loss heuristic explains a way of reasoning in entrepreneurial investment decision-making in uncertainty. Design/methodology/approach The scale development process spans several phases including conceptualization, qualitative interviews and expert item review in the item development phase. In the exploratory phase, two studies are used to refine the instrument. In the validation phase, the scale is validated through confirmatory factor analysis and assessment of the invariance thereof. Findings The study produces a two-dimensional reflective scale of affordable loss, including dimensions of a loss heuristic in uncertainty and experimental mindset. The scale is validated and invariant across different geographical contexts. Research limitations/implications The scale builds on the theory of affordable loss, presenting clearer insights into the nature and dimensions of this heuristic. It offers an empirical contribution by enabling the measurement of affordable loss as a construct in entrepreneurial decision-making. Practical implications An understanding of affordable loss gives practitioners the means to assess and develop entrepreneurial reasoning. Originality/value The study presents a novel measure of the affordable loss investment heuristic, paving the way for future studies into its antecedents and outcomes.