What Competition? Myopic Self-Focus in Market-Entry Decisions
研究发现创业者、潜在创业者和实验参与者在决定是否进入市场时，主要依据对自身能力的评估，而较少关注竞争强度，这比简单的过度自信更复杂，有助于解释创业进入的异常模式。
This paper documents egocentric biases in market-entry decisions. We demonstrate self-focused explanations for entry decisions made by three groups of participants: actual entrepreneurs (founders), working professionals who considered starting their own firms but did not (nonfounders), and participants in a market-entry experiment. Potential entrants based their decision to enter primarily on evaluations of their own competence (or incompetence) and paid relatively little attention to the strength of the competition. Our results suggest that excess entrepreneurial entry is more complicated than simple overconfidence, and can help explain notable patterns in entrepreneurial entry.