Following the Green Paper dealing with the entrepreneurship in Europe, the European Commission put forward the thesis that Europe suffers from an «entrepreneurship deficit» in comparison to the US. This paper presents a model dealing with the consequences of managers’ optimism and pessimism...

This paper examines the debate over the gains from trade when international differences in the risk perception of heterogeneous managers provide the basis for trade: the relatively optimistic country exports the risky commodity whereas the relatively pessimistic country exports the certain...

Following the Green Paper dealing with the entrepreneurship in Europe, the European Commission put forward the thesis that Europe suffers from an “entrepreneurship deficit” in comparison to the US. This paper presents a model dealing with the consequences of managers’ optimism and...