Busenitz & Barney 1997 — entrepreneurs more overconfident than corporate managers

Claim: Busenitz & Barney (1997, Journal of Business Venturing) found entrepreneurs show significantly more overconfidence and representativeness bias than managers in large organizations.

Source: Busenitz & Barney 1997 JBV.

Confidence: Verified.

Why this matters for Candid: The widget's sample population (SMB founders/owners) is the most-biased one in the literature — even more so than corporate managers, who already self-rate above average. Calibrate accordingly.