المستودع الأكاديمي جامعة المدينة

"I think I can, I think I can": Overconfidence and Entrepreneurial Behavior

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dc.creator Koellinger, Philipp
dc.creator Minniti, Maria
dc.creator Schade, Christian
dc.date 2005
dc.date.accessioned 2013-10-16T06:59:36Z
dc.date.available 2013-10-16T06:59:36Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18352
dc.identifier ppn:494462884
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18352
dc.description Many firms fail shortly after inception. Yet individuals continue starting businesses. Prewar economists such as Keynes invoked animal spirits and stressed psychological factors in their explanations of economic behavior. Using a large sample obtained from surveys conducted in 18 countries, we study what variables have a significant impact on an individual?s decision to start a business. We find strong evidence that subjective, and often biased, perceptions have a crucial impact on new business creation across all countries in our sample. Our findings are consistent with the idea that individuals rely significantly on their perceptions rather than on objective probabilities, evaluate their businesses prospects by taking an overconfident ?inside view? of their situation, and, as a result, overestimate their likelihood of success.
dc.language eng
dc.publisher Deutsches Institut für Wirtschaftsforschung (DIW) Berlin
dc.relation DIW-Diskussionspapiere 501
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject J29
dc.subject D01
dc.subject M13
dc.subject ddc:330
dc.subject Entrepreneurship
dc.subject Self-Employment
dc.subject Perceptions
dc.subject Perceptual Variables
dc.subject Overconfidence
dc.title "I think I can, I think I can": Overconfidence and Entrepreneurial Behavior
dc.type doc-type:workingPaper


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