۱٫ Introduction

۲٫ Experimental research and hypothesis

۳٫ Conclusion and discussion

Acknowledgement

Bibliography

The experimental approach in whole economical science, despite of rising popularity, is highly uninvestigated. The obvious benefits of this kind of view are often overlook or substitute with more abstract mathematical way, sacrificing precise data for more elegant but sometimes too simplistic model. Thus in this paper we examine a dataset from experiment we designed to investigate the entrepreneurship phenomenon and its driving forces. We used a framework for identify entrepreneurship potential of participants base on the five-factor personality system theory of Costa & McCrae (1992) known as Big-Five. We were able to develop the experimental design, which was able to measure the overconfidence of participants and afterwards model the relationship between all Big-Five dimensions and measured overconfidence.

Introduction

Optimism is normal human trait, but some people are more optimistic than others. If someone is genetically endowed with optimistic bias, there is no need to tell this person that he or she is happy – that is something he or she knows. Optimism plays significant role in many parts of our live. As Mosing et al. ( 2010) showed, optimistic people are usually cheerful and happy which is why they are favored people in group. Snowdon ( 2001) researches also show, that there is significantly lower risk for clinical depression, they have stronger immunity system and in average they live longer. Moreover has been proven by Puri & Robinson ( 2007), optimistic people have higher chance to enter into another marriage after divorce. Optimistic people are often those people “who are seen”. This statement has been studied from many angles by many teams, for example Camerer & Lovallo ( 1999), Hmieleski & Baron ( 2009), Moore & Healy (Moore & Healy, 2007): They concluded that optimistic people tend to be more often leaders (both in organizations an in the army or the armed forces), managers, inventors, politicians and last but not least entrepreneurs. On the other hand there are those areas, where we cannot identify human behavior or decision making as optimistic, because we are facing rational information which tells us how we are actually stands. In that case we should choose more appropriate identification – overconfidence. Research results (see above) shows, that optimism plays significant (sometimes decisive) role when people are facing decision making process which include risk.