The commercialization of university‐held research discoveries is increasingly seen as a promising source of revenue, and a growing number of universities are adding policies and incentives in an attempt to encourage commercialization activities. The effectiveness of these efforts is in jeopardy, however, because these changes can unintentionally create an environment ripe for misalignment between policies and incentives and university scientists' work identity. We develop a conceptual model that suggests such changes trigger moral and hedonistic cognitive dissonance, and in reaction scientists can engage in identity adaptation via distinct pathways, leading to different levels of commercialization engagement intensity.