Mathematics, theory, and entrepreneurship

Physics, engineering, and economics make extensive use of mathematics. However, mathematics is rarely utilized in organizational studies. This is unfortunate because mathematics is an effective tool for describing phenomena, building new theories, or refining existing theories. This article proposes the use of mathematics to the broader management communities of scholars as a means of invigorating theory development. A description of the strengths of a mathematical approach to theory development offers a compelling argument for its use in organizational studies. We demonstrate how a mathematical model conforms to the broader philosophy of science requirements, and review optimization models as potent research methods. Applications of these methodologies to the context of entrepreneurship illustrate how one can build new theories and refine existing ones. (C) 2003 Elsevier Inc. All rights reserved.