Research on the evolution of innovation behavior of new generation entrepreneurs in different scenarios

• Main Authors: Aiwu Zhao, Zhenzhen Sun, Hongjun Guan, Jingyuan Jia
• Format: Article
• Language: English
• Published: Vilnius Gediminas Technical University 2020-08-01
• Series: Technological and Economic Development of Economy
• Subjects: new generation entrepreneur; innovation behavior; computational experiment; evolution; scenario
• Online Access: https://journals.vgtu.lt/index.php/TEDE/article/view/12373

Innovation of new generation entrepreneurs is crucial to the development of a country. Empirical research method can analyze the history and current situation, but it is difficult to reflect the dynamic process and evolution trend under different scenarios. In this paper, we adopt computational experiment method to model the decision-making process of new generation entrepreneurs. Multi-agent evolution model is constructed to simulate individual behavior of different types of new generation entrepreneurs under different scenarios. By the comparison of different results, it analyses the evolutionary rules of innovation behaviors and explores guidance policies to promote entrepreneurs’ innovation behavior and achieve better innovation performance. The experimental results show that although internal elements such as individual’s innovative spirit, innovative ability and cognition of social capital determine the innovation intention, the capital, technology and talent conditions are also very important for innovation implementation. New generation entrepreneurs with different risk preferences should objectively evaluate and treat innovation risks according to their own characteristics. This helps to reduce the negative impact of innovation risk on continuous innovation. Meanwhile, government should pay attention to establishing risk guarantee mechanism such as innovation insurance fund to promote the innovation of new generation entrepreneurs. First published online 17 April 2020