The curse of knowledge increases self-selection into competition : experimental evidence ; conference paper

Danz, David

The psychology literature provides ample evidence that people have difficulties taking the perspective of less informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of nascent entrepreneurs and the substantial rate of failure among new businesses.

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Year of publication:	2014
Authors:	Danz, David
Published in:	Beiträge zur Jahrestagung des Vereins für Socialpolitik 2014: Evidenzbasierte Wirtschaftspolitik Session: Behavioral economics ; V2
Publisher:	[Kiel : ZBW
Subject:	curse of knowledge \| hindsight bias \| information projection \| overconfidence \| sorting \| incentive schemes \| competition \| beliefs \| experiments

Extent:	Online-Ressource (64 S.) Ill., graph. Darst.
Conferences:	Jahrestagung des Vereins für Socialpolitik: Evidenzbasierte Wirtschaftspolitik ; 2014
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Konferenzschrift ; Graue Literatur ; Non-commercial literature
Language:	English ; German
Notes:	Systemvoraussetzungen: Acrobat Reader Text überw. engl., teilw. dt.
Other identifiers:	hdl:10419/100543 [Handle]
Classification:	C91 - Laboratory, Individual Behavior ; D80 - Information and Uncertainty. General ; D82 - Asymmetric and Private Information ; D83 - Search, Learning, Information and Knowledge ; D84 - Expectations; Speculations
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://ebvufind01.dmz1.zbw.eu/10010488505