Psychological Perspective on Entrepreneurship

Østergaard, Santos, and Costa argue that entrepreneurship is increasingly perceived as a lifestyle and underscore the importance of understanding how entrepreneurial activities influence and are influenced by the entrepreneurs’ well-being. Through the lenses of well-being theories, building on the eudaimonic and hedonic dimensions of well-being, Østergaard et al. put forward a general framework to inspire future research and practice in entrepreneurship grounded on the psychological theory of well-being. According to Østergaard et al., integrating theories of well-being from psychology into entrepreneurship research is necessary to understand the impact of entrepreneurship on individuals’ mental health, promote quality of life, understand the motivations underlying entrepreneurial behavior, and further understand how entrepreneurs change their environment, discover opportunities, and advance societies in innovative ways.