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http://hdl.handle.net/10419/67175
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| Title: | | Entrepreneurship: Cause or consequence of financial optimism?  |
| Authors: | | Dawson, Christopher De Meza, David Emmanuel Henley, Andrew Arabsheibani, G. Reza |
| Issue Date: | | 2012 |
| Series/Report no.: | | Discussion Paper Series, Forschungsinstitut zur Zukunft der Arbeit 6844 |
| Abstract: | | Extant evidence that the self-employed overestimate their returns by more than employees do is consistent with two mutually inclusive possibilities. Self-employment may generate optimism or optimists may be drawn to self-employment. This paper finds that employees who will be self-employed in the future overestimate their short-run financial wellbeing by more than those who never become self-employed. When actually self-employed they are even more optimistic. Employees aspiring to start their own business are also of above average optimism. Cross-sectional findings are therefore an amalgam of psychological disposition and environmental factors, as theory requires if optimism is to be a causal influence on entrepreneurship. |
| Subjects: | | financial optimism expectations self-employment |
| JEL: | | D84 M13 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)
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