The curse of knowledge increases self-selection into competition: experimental evidence

Danz, David

Bibtex export

@book{ Danz2014,
 title = {The curse of knowledge increases self-selection into competition: experimental evidence},
 author = {Danz, David},
 year = {2014},
 series = {Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, Abteilung Verhalten auf Märkten},
 pages = {64},
 volume = {SP II 2014-207},
 address = {Berlin},
 publisher = {Wissenschaftszentrum Berlin für Sozialforschung gGmbH},
 abstract = {The psychology literature provides ample evidence that people have difficulties taking the perspective of less-informed others. This paper presents a controlled experiment showing that this "curse of knowledge" can cause comparative overconfidence and overentry into competition. In a broader context, the results provide an explanation for the overconfidence of nascent entrepreneurs and the substantial rate of failure among new businesses. (author's abstract)},
 keywords = {Wissen; knowledge; Selbstbewusstsein; self-confidence; Wettbewerb; competition; Anreizsystem; incentive system; Experiment; experiment; Information; information; Unternehmen; enterprise; Verhalten; behavior}}