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The Borrwer's Curse: Comment

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  • Hillier, Brian

Abstract

This 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.

Suggested Citation

  • Hillier, Brian, 1998. "The Borrwer's Curse: Comment," Economic Journal, Royal Economic Society, vol. 108(451), pages 1772-1774, November.
    • Handle: RePEc:ecj:econjl:v:108:y:1998:i:451:p:1772-74
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    Cited by:

    1. 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 162-195, May.

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