Salient successes and failures, such as spectacular venture capital investments or
agonizing bankruptcies, affect collective beliefs about the viability of particular markets …

Excess entry—or the high failure rate of market entry decisions—is often attributed to
overconfidence exhibited by entrepreneurs. Assuming that these decisions depend on …

Entrepreneurs face considerable obstacles in accruing funding and other resources when
starting a new venture; problems that are likely compounded when starting a new venture …

Entrepreneurs face considerable obstacles in accruing funding and other resources when
starting a new venture; problems that are likely compounded when starting a new venture …

I look at whether a founder of a successful startup or an employee of a successful startup is
valued more as the founders of the next startup. I find that employees, despite taking a lesser …

Entrepreneurs face high uncertainty, and often make costly investments in new business
ideas without knowing the expected payoff. This paper empirically examines whether ex …

Evaluating the market for potential entrepreneurs, we test whether interacting with confident
agents encourages entry into competitive environments. Under an experimental setting, we …

The mismatch between Stinchcombe's original propositions regarding “the liability of
newness” and subsequent attempts to test those propositions suggests to us that the form …

This paper develops a hubris theory of entrepreneurship to explain why so many new
ventures are created in the shadow of high venture failure rates: More confident actors are …