And a Vision Appeared unto them of a Great Profit: Evidence of Self-Deception among the Self-Employed
Abstract
Evidence is presented that the self employed expect better financial outcomes than do employees but experience worse realisations. This is consistent with theories that entrepreneurship is driven by unrealistic optimism.Download Info
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Paper provided by Department of Economics, Royal Holloway University of London in its series Royal Holloway, University of London: Discussion Papers in Economics with number 99/9.Length: pages
Date of creation: Feb 2000
Date of revision: Feb 2000
Handle: RePEc:hol:holodi:9909
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Related research
Keywords: Entrepreneurship; unrealistic optimism;Other versions of this item:
- Arabsheibani, Gholamreza & de Meza, David & Maloney, John & Pearson, Bernard, 2000. "And a vision appeared unto them of a great profit: evidence of self-deception among the self-employed," Economics Letters, Elsevier, vol. 67(1), pages 35-41, April.
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
This paper has been announced in the following NEP Reports:
- NEP-ALL-2001-06-14 (All new papers)
References
References listed on IDEASPlease report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Manove, Michael & Padilla, Atilano Jorge, 1998.
"Banking (Conservatively) With Optimists,"
CEPR Discussion Papers
1918, C.E.P.R. Discussion Papers.
- Michael Manove & A. Jorge Padilla, 1999. "Banking (Conservatively) with Optimists," RAND Journal of Economics, The RAND Corporation, vol. 30(2), pages 324-350, Summer.
- Manove, M. & Padilla, A.J., 1997. "Banking (Conservatively) with Optimists," Papers 9718, Centro de Estudios Monetarios Y Financieros-.
- De Meza, D. & Southey, C., 1995.
"The Borrower's Curse: Optimism, Finance and Enterpreneurship,"
Discussion Papers
9502, Exeter University, Department of Economics.
- de Meza, David & Southey, Clive, 1996. "The Borrower's Curse: Optimism, Finance and Entrepreneurship," Economic Journal, Royal Economic Society, vol. 106(435), pages 375-86, March.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Alex Coad, 2007.
"Neoclassical vs Evolutionary Theories of Financial Constraints : Critique and Prospectus,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-00144415, HAL.
- Coad, Alex, 2010. "Neoclassical vs evolutionary theories of financial constraints: Critique and prospectus," Structural Change and Economic Dynamics, Elsevier, vol. 21(3), pages 206-218, August.
- Alex Coad, 2007. "Neoclassical vs evolutionary theories of financial constraints : critique and prospectus," Documents de travail du Centre d'Economie de la Sorbonne r07008, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Parker, Simon C., 2007. "Entrepreneurial learning and the existence of credit markets," Journal of Economic Behavior & Organization, Elsevier, vol. 62(1), pages 37-46, January.
- Puri, Manju & Robinson, David T., 2007.
"Optimism and economic choice,"
Journal of Financial Economics,
Elsevier, vol. 86(1), pages 71-99, October.
- Manju Puri & David Robinson, 2005. "Optimism and Economic Choice," NBER Working Papers 11361, National Bureau of Economic Research, Inc.
- Hyytinen, Ari, 2003. "Loan market equilibrium with difference of opinion and imperfect competition," Economics Letters, Elsevier, vol. 78(1), pages 125-129, January.
- Georgellis, Yannis & Sessions, John & Tsitsianis, Nikolaos, 2007. "Pecuniary and non-pecuniary aspects of self-employment survival," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(1), pages 94-112, March.
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