Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/319867 
Year of Publication: 
2024
Citation: 
[Journal:] Entrepreneurship Theory and Practice [ISSN:] 1540-6520 [Volume:] 48 [Issue:] 4 [Publisher:] Sage [Place:] Thousand Oaks, CA [Year:] 2024 [Pages:] 1082-1109
Publisher: 
Sage, Thousand Oaks, CA
Abstract: 
Intuition is a central element of entrepreneurial decision-making. We conceptually replicate a published study by using new representative data from 1961 adults and the widely used Cognitive Reflection Test, which assesses the ability to avoid intuitive decisions and to switch to an analytical process. We extend the analysis by exploring occupational sorting versus environmental influence as mechanisms, the role of overconfidence, and heterogeneity. Our results confirm that entrepreneurs do not resist intuitive (but potentially wrong) decisions as much as hired managers do. Our extensions suggest that this difference is not fully explained by occupational sorting, but partially by overconfidence.
Subjects: 
entrepreneurs
managers
cognitive reflection
intuition
overconfidence
personality
JEL: 
L26
D91
Persistent Identifier of the first edition: 
Document Type: 
Article
Document Version: 
Published Version

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