Errors are common in the entrepreneurial world, but the ability to learn from past mistakes can separate successful entrepreneurs from the rest. On the other hand, it has been demonstrated that the average population can anticipate future problems based on emotional signals elicited from past experience—a capacity known as emotion-based learning. The present research was aimed at examining emotion-based learning while also incorporating risk-taking predisposition (RTP) as an additional measurement among entrepreneurs using Iowa gambling task (IGT). Participants were instructed to pick cards from a deck, and each card either awarded or subtracted points. While performing this task, participants’ skin conductance response (SCR) was recorded to examine subtle emotional signals. The sample of entrepreneurs involved in our study showed worse IGT performances than those in the control group. This was similar to findings in a previous study (Muehlfeld et al., Entrep Theory Pract 41:533–565, 2017) that surmised that the typical behavior was simply due to exploring all opportunities that eventually had significant cost to participants. Here, we extend the explanation that the SCR measurement supported emotion-based learning, indicating that our participants were aware of the potential risks of the IGT. Furthermore, entrepreneurs’ RTP could explain the incompatibility between physiological and behavioral outcomes. Entrepreneurs seemed to ignore the bodily-emotional signals, perhaps tempted by a particular card deck’s gain/loss ratio, which eventually led to significant losses. This study illuminates the interplay between risk-taking propensity, physiological markers of emotion, and performance in a game scenario that simulates decision-making in an ambiguous environment.

错误在创业界很常见，但从过去的错误中吸取教训的能力可以将成功的企业家与其他人区分开来。另一方面，已经证明，普通人可以根据从过去的经验中得出的情绪信号来预测未来的问题——这种能力被称为基于情绪的学习。本研究旨在检验基于情绪的学习，同时还将冒险倾向 (RTP) 作为使用爱荷华赌博任务 (IGT) 的企业家的额外衡量标准。参与者被指示从一副牌中挑选卡片，每张卡片都会获得或减去分数。在执行此任务时，记录参与者的皮肤电导反应 (SCR) 以检查微妙的情绪信号。参与我们研究的企业家样本显示出比对照组更差的 IGT 表现。这与之前的一项研究（Muehlfeld 等人，Entrep Theory Pract 41:533–565, 2017）中的发现相似，该研究推测典型行为仅仅是由于探索了所有最终会给参与者带来巨大成本的机会。在这里，我们扩展了 SCR 测量支持基于情绪的学习的解释，表明我们的参与者意识到 IGT 的潜在风险。此外，企业家的 RTP 可以解释生理和行为结果之间的不相容性。企业家们似乎忽略了身体-情感信号，也许是受特定牌组的收益/损失比率的诱惑，最终导致重大损失。