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Titel
Overoptimistic entrepreneurs : predicting wellbeing consequences of self-employment / Reto Odermatt (University of Basel and CEP (LSE)), Nattavudh Powdthavee (Warwick Business School, CEP (LSE) and IZA), Alois Stutzer (University of Basel and IZA) ; IZA Institute of Labor Economics
VerfasserOdermatt, Reto In der Gemeinsamen Normdatei der DNB nachschlagen ; Powdthavee, Nattavudh In der Gemeinsamen Normdatei der DNB nachschlagen ; Stutzer, Alois In der Gemeinsamen Normdatei der DNB nachschlagen
KörperschaftForschungsinstitut zur Zukunft der Arbeit In der Gemeinsamen Normdatei der DNB nachschlagen
ErschienenBonn, Germany : IZA Institute of Labor Economics, October 2017
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Elektronische Ressource
Umfang1 Online-Ressource (35 Seiten) : Diagramme
SerieDiscussion paper ; no. 11098
URNurn:nbn:de:hbz:5:2-140829 Persistent Identifier (URN)
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Overoptimistic entrepreneurs [1.26 mb]
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Zusammenfassung

The formation of expectations is a fundamental part of the process when people decide about engaging in an entrepreneurial venture. We evaluate the accuracy of newly selfemployed people's predictions of their overall future wellbeing. Based on individual panel data for Germany, we find that they are overly optimistic when we compare their predicted life satisfaction with their actual life satisfaction five years later on. This overoptimism also holds for those entrepreneurs who successfully remain in business for at least five years. A possible reason might be that they underestimate the heavy workload reflected in higher working hours than desired and the drop in leisure satisfaction.