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Sustainability 2018, 10(7), 2233; https://doi.org/10.3390/su10072233

Overconfidence, Optimism and Entrepreneurship

1
Department of Applied Economics, Erasmus School of Economics, Erasmus University Rotterdam, 3062 PA Rotterdam, The Netherlands
2
Erasmus University Rotterdam Institute for Behavior and Biology (EURIBEB), Erasmus University Rotterdam, 3062 PA Rotterdam, The Netherlands
3
Montpellier Business School, 34080 Montpellier, France
*
Author to whom correspondence should be addressed.
Received: 4 June 2018 / Revised: 25 June 2018 / Accepted: 27 June 2018 / Published: 28 June 2018
Full-Text   |   PDF [269 KB, uploaded 28 June 2018]

Abstract

Overconfidence is one of the alleged drivers for market entry. However, establishing its effect is challenging and much of the existing entrepreneurship literature confusingly conflates overconfidence with optimism. In the present study, we use validated scales to analyze the relationship between overconfidence and two important aspects of entrepreneurship, while explicitly controlling for optimism. Specifically, we study the role of overconfidence in developing intentions about entering entrepreneurship as well as how overconfidence relates to entrepreneurial orientation. Our findings show that overconfidence is related to intended market entry but not to the market position (entrepreneurial orientation) of the business. View Full-Text
Keywords: entrepreneurial intention; entrepreneurial orientation; optimism; overconfidence entrepreneurial intention; entrepreneurial orientation; optimism; overconfidence
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
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Bernoster, I.; Rietveld, C.A.; Thurik, A.R.; Torrès, O. Overconfidence, Optimism and Entrepreneurship. Sustainability 2018, 10, 2233.

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