Conclusion
This study reviewed Bayesian methods use in extant entrepreneurship research. In general, we found that these studies have infrequently employed Bayesian methods, despite the direct applicability of Bayesian methods to entrepreneurship topics and research situations (e.g. decision making under uncertainty). Specifically, only seven studies employed Bayesian logic or methods from 2000 to 2017. As a result, we highlighted additional topics where scholars could employ these methods in future research and provided examples from other organizational research illustrating applications of these methods to entrepreneurship research.
This review also demonstrates that this analysis may be particularly appropriate for entrepreneurship research, given the importance of both uncertainty and information asymmetry to the entrepreneurship process. By employing Bayesian methods, scholars may gain additional insight into entrepreneurial phenomenon by allowing researchers to examine entrepreneurial decision making. We hope that through this review and these recommendations, we help encourage greater Bayesian analysis usage in future entrepreneurship research.