Open AccessBusiness location decision: the behavioural aspect in empirical research
Author(s) -
Wojciech Sabat,
Tomasz Pilewicz
Publication year - 2019
Publication title -
journal of management and financial sciences
Language(s) - English
Resource type - Journals
eISSN - 2657-5612
pISSN - 1899-8968
DOI - 10.33119/jmfs.2019.37.6
Subject(s) - heuristics , rationality , empirical research , residence , marketing , business , management science , computer science , economics , political science , philosophy , epistemology , law , demographic economics , operating system
The behavioural location theory helps to understand business location decisions which are not explained in the perfect rationality paradigm. In this article, we survey empirical research on business location decisions which include the behavioural aspect. We conclude that entrepreneurs appear to be biased towards choosing locations in their place of residence and are reluctant to make complicated location analysis. We also indicate the research gap – a lack of research on the impact of heuristics on location decisions.