Exploring Overconfidence Bias In Entrepreneurial Marketing Behavior

Document Type : Research Paper

Authors

1 Phd of Entrepreneurship, Faculty of Entrepreneurship, University of Tehran

2 Associate Professor of Entrepreneurship, Faculty of Entrepreneurship, University of Tehran

3 Professor of Entrepreneurship, Faculty of Entrepreneurship, University of Tehran

Abstract

Entrepreneurs are prone to lots of decision making biases like overconfidence. Overconfidence has major consequences in different entrepreneurial decisions. Entrepreneurial marketing behavior is one of the most important entrepreneurial characteristics. This paper’s main goal is to explore overconfidence in nascent entrepreneurs’ marketing behavior. According to this paper’s results whose data have been gathered by conducting semi-structured interviews with nascent entrepreneurs located in Tehran and analyzed by a grounded theory approach, firm resources and firm goals, environmental tumult, optimism and self-efficacy are the main drivers of overconfidence, market-related and product-related decisions are the main strategies emanating from overconfidence and financial loss and financial profit are the main consequences of overconfidence in nascent entrepreneurs’ marketing behavior.

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References

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