Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/25710 
Authors: 
Year of Publication: 
2008
Series/Report no.: 
Jena Economic Research Papers No. 2008,020
Publisher: 
Friedrich Schiller University Jena and Max Planck Institute of Economics, Jena
Abstract: 
Self-efficacy, which can be defined as optimism about one’s own ability to exercise required actions, has received a lot of attention in research on entrepreneurs’ and managers’ decision making. This attention led to the development of corresponding measurement instruments. However, there is no equivalent measure of the more general personal optimism that jointly captures on equivalent bases abilities and other sources of uncertainty, which one might be more or less optimistic about. I develop a measurement instrument of four dimensions of personal optimism: ability optimism (self-efficacy), rivalry optimism (being better than others), chance optimism (being a lucky devil or fearing of bad-luck), and social support optimism (others help and support me and are trustworthy). Correlations between subscales are intuitive and backed by theory. I replicate corresponding results from previous studies that used different measures, e.g. life-orientation (LOT-R), self-efficacy (NGSE), and social optimism at the societal level from the POSO scale. This new personal optimism measurement instrument is very much like the life-orientation test (LOT-R), but it provides more insights regarding the structure of optimism. Whenever self-efficacy or control beliefs are of interest, the ARCS or ACS scales should be used to control for complementary world beliefs. I also illustrate the special role of one item in NGSE, which in contrast to all other NGSE items refers to a comparative instead of an absolute judgment.
Subjects: 
personal optimism
social optimism
chance optimism
self-efficacy
Document Type: 
Working Paper

Files in This Item:
File
Size
652.14 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.