And a vision appeared unto them of a great profit: evidence of self-deception among the self-employed
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.
(This abstract was borrowed from another version of this item.)
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References listed on IDEAS
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- Jürg Niehans, 1997. "Adam Smith and the Welfare Cost of Optimism," History of Political Economy, Duke University Press, vol. 29(2), pages 185-200, Summer.
- Michael Manove & A. Jorge Padilla, 1999.
"Banking (Conservatively) with Optimists,"
RAND Journal of Economics,
The RAND Corporation, vol. 30(2), pages 324-350, Summer.
- De Meza, D. & Southey, C., 1995.
"The Borrower's Curse: Optimism, Finance and Enterpreneurship,"
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 375-386, March.
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