A study that looked at how entrepreneurs’ confidence levels change depending on market conditions has been corrected to fix an error that flipped the results of one of the experiments.
The paper was published in 2013 by the Strategic Management Journal, and explored how entrepreneurs stay confident in difficult marketplaces by studying how people reacted to tasks of varying difficulty. In one experiment, participants were asked how well they thought they did on an easy quiz and how well they did on a hard quiz. Results showed that “participants underestimated their scores on the easy quiz” and “overestimated their performance on the difficult quiz.” However, authors wrote the opposite in the final paper.
Here’s the correction notice for “Making Sense of Overconfidence in Market Entry”:
Continue reading Correction restores confidence in results of confidence study
