learn the texture between column and row 1. time has passed. one year after you are reading the completed version of this paper. based on this imagination, could you try summarizing the paper using the format attached? just learn the no need for learning the contents but learn the format. in specific: 1) how 🔐Research Question | 🧱Literature Brick | 🔑Key Message are related with each other for each section, 2) how each section builds on top of the previous ones. 2. base on the knowhow on paper texture from 2, complete the texture of our paper. of course you're reading the imagined completed version of our "testing idea vs testing profitability in nested structure" i.e. tradeoff between value of information and testing cost examples - table9 from [[🗄️🧠scott]] | Section | 🔐Research Question | 🧱Literature Brick | 🔑Key Message | Building on Previous | |---------|-------------------|------------------|---------------|-------------------| | 1. 📊Statistical Model | When should entrepreneurs test idea quality vs strategy implementation given resource constraints? | • Statistical decision theory<br>• Bayesian hierarchical models<br>• De Finetti's exchangeability | Formalized a two-level decision problem where profitability y = φ * θ, with costs cᵢ and cₛ for testing idea and strategy respectively | Foundational section establishing mathematical framework | | 2. ☕️🏎️Applications | How do different market contexts affect optimal testing sequence? | • Starbucks/coffee market case<br>• Tesla/EV market entry<br>• Prototype testing literature | High idea-testing costs (EV) vs low (coffee) lead to different optimal sequences; good prototypes enable cheaper idea testing | Uses model from Section 1 to explain real-world cases | | 3. 🫀Implications | What role does exchangeability play in entrepreneurial testing? | • De Finetti's theorem<br>• Resource-constrained inference<br>• Entrepreneurial learning | Exchangeability enables abstraction about idea quality through strategy testing, but only under specific conditions | Extends Section 1's theory using Section 2's examples | | 4. 🥲Limitations | What are the boundaries of this framework? | • Bounded rationality<br>• Dynamic capability literature<br>• Learning theory | Framework assumes: <br>• Static idea quality<br>• Independent strategy tests<br>• Clear quality signals | Identifies where Sections 1-3 need extension |