Entrepreneurial overconfidence and the industry choice for new ventures: Novice vs. habitual entrepreneurs

Key Points

• Overconfidence influences both novice and habitual entrepreneurs when selecting industries to enter, affecting their decision-making process.
• In comparing novice and habitual entrepreneurs, the study observes notable behavioral differences in their industry choice based on confidence levels.
• The analysis employs a qualitative approach to examine how entrepreneurial overconfidence manifests differently across various types of entrepreneurs.
• Findings may enable better understanding of entrepreneurial strategies, guiding support systems for both novice and experienced entrepreneurs.