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.
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|Date of revision:||Feb 2000|
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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.
- Manove, Michael & Padilla, Atilano Jorge, 1998.
"Banking (Conservatively) With Optimists,"
CEPR Discussion Papers
1918, C.E.P.R. Discussion Papers.
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