Entrepreneurs Often Fall Prey to Self-Focus,which Makes Them Too Eager

question 10

Short Answer

Entrepreneurs often fall prey to self-focus,which makes them too eager to enter _________ contests and too reluctant to enter ___________ competitions.

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Definitions:

Belief Perseverance

The tendency to maintain a belief even after the evidence supporting it has been discredited or refuted.

Overconfidence

The phenomenon where an individual's belief in their own abilities exceeds the accuracy of those abilities.

Framing Effect

A cognitive bias where people react differently based on the way information is presented to them, demonstrating how context and framing can influence decision making.

Representativeness Heuristic

A mental shortcut used to make judgments about the probability of an event under uncertainty, based on how similar it is to our typical idea of the event.