Abstract
This paper will review past economic models and through the analysis of mature economic and psychological models, this paper explains the rational man hypothesis and its deficiency in practical application. This paper further reviews the criticism of the rational man hypothesis in the past, and introduces behavioral economics and the overconfidence theory. The characteristics of overconfidence of entrepreneurs will be focused in this paper. Whether there is overconfidence in entrepreneurs and whether overconfidence will affect their entrepreneurial decision-making will be elaborated in this paper. It is expected to deepen the understanding of the entrepreneurs’ own characteristics and provide a theoretical basis for the success of entrepreneurship.
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Liu, Y. (2021). How Does Overconfidence Affect Entrepreneurs at Loss. In: Yuan, C., Li, X., Kent, J. (eds) Proceedings of the 4th International Conference on Economic Management and Green Development. Applied Economics and Policy Studies. Springer, Singapore. https://doi.org/10.1007/978-981-16-5359-9_15
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DOI: https://doi.org/10.1007/978-981-16-5359-9_15
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