Opportunity and Uncertainty: A Systematic Review of How Literature Incorporates Both Constructs

Documento

Purpose – This systematic review explores how entrepreneurship literature integrates the constructs of opportunity and uncertainty, addressing the theoretical tension between opportunity-based approaches and Knightian uncertainty. Design/methodology/approach – A systematic review of 78 peer-reviewed articles (2012–2024) from Scopus and Web of Science was conducted. Articles were inductively categorized to examine how opportunity and uncertainty are conceptualized and interrelated. Findings – Opportunity is predominantly treated as a theoretical construct, while uncertainty is framed as contextual. Discovery and creation theories dominate, with Shane, Venkataraman, and Kirzner representing discovery, and Alvarez, Barney, and Sarasvathy representing creation. Knightian uncertainty is most cited, followed by Milliken’s typology. The review introduces a novel quadrant-based framework, revealing a previously unexplored theory–context dynamic and proposing a fourth quadrant that conceptualizes uncertainty as theory and opportunity as context. Originality – This study makes four contributions: (1) it uncovers a theory–context pattern in how opportunity and uncertainty are integrated; (2) it maps dominant and emerging schools of thought and key authors; (3) it introduces a 3A–3B–3AB classification system for contextual uncertainty; and (4) it proposes a quadrant-based analytical framework that identifies conceptual intersections and a new research agenda. This framework challenges prevailing assumptions and opens avenues for theoretical-empirical exploration of entrepreneurial phenomena through the lens of uncertainty.

Informações

Título

Opportunity and Uncertainty: A Systematic Review of How Literature Incorporates Both Constructs

Autor(es)

Victor Silva Corrêa | Maria Carolina Silva de Arruda | Wilquer Silvano de Souza Ferreira

Assunto

Esta revisão sistemática explora como a literatura sobre empreendedorismo integra os construtos de oportunidade e incerteza, abordando a tensão teórica entre abordagens baseadas em oportunidades e a incerteza Knightiana.

Área de Concentração

Redes Organizacionais

Linha de Pesquisa

Redes, Organizações e Sociedade

Idioma

Publicado em

CORRÊA, Victor Silva; ARRUDA, Maria; FERREIRA, Wilquer Silvano de Souza. Opportunity and uncertainty: a systematic review of how literature incorporates both constructs. Academy of Management Proceedings, v. 2026, n. 1, 2026. DOI: https://doi.org/10.5465/AMPROC.2026.17894abstrac

Evento

86ª Reunião Anual da Academia de Administração (AOM 2026)

Data de Publicação

17/06/2026

Direito de Acesso

Acesso Aberto

Tipo

artigo

Coleção

Apresentação em congresso

Financiamento

Vice-Reitoria de Pós-Graduação e Pesquisa da UNIP