The Borrwer's Curse: Comment
AbstractThis paper explores the implications of entrepreneurs holding biased perceptions about the probability of project success and/or the size of payoff, if successful. When entrepreneurs are optimistic only about the probability of success, credit is not rationed. Credit rationing can occur where optimists overestimate payoffs.
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Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 108 (1998)
Issue (Month): 451 (November)
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- Parker, Simon C, 2002. "Do Banks Ration Credit to New Enterprises? And Should Governments Intervene? President's Lecture Delivered at the Annual General Meeting of the Scottish Economic Society 4-5 September 2001," Scottish Journal of Political Economy, Scottish Economic Society, vol. 49(2), pages 162-95, May.
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