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Autoren: 
Herz, Holger
Schunk, Daniel
Zehnder, Christian
Datum: 
2013
Reihe/Nr.: 
CESifo Working Paper 4084
Zusammenfassung: 
Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that different forms of overconfidence may have opposing effects on innovative activity. While overoptimism leads to an innovation enhancing effect, judgmental overconfidence inhibits innovation. Our results indicate that future research is well advised to take into account that the relationship between innovation and overconfidence may crucially depend on what type of overconfidence is most prevalent in a particular context.
Schlagwörter: 
innovation
entrepreneurship
overconfidence
experiment
JEL: 
C92
D83
D23
Dokumentart: 
Working Paper

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