We develop a game-theoretic analysis of an entrepreneur's choice between venture capital financing or crowdfunding in order to finance his new innovative start-up. If he chooses venture capital, the venture capitalist provides value-creating effort (in addition to the E's own effort). However,...

We present a theory of entrepreneurial behavior that explores the relationship between overconfidence and successful firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the probability of a successful outcome: it not only induces...

We present a theory of entrepreneurial behavior that explores the relationship between overconfidence and successful firm outcomes, such as acquisition or IPO. In our model, increasing overconfidence produces two conflicting effects on the probability of a successful outcome: it not only induces...