Abstract
Entrepreneurs use and exhibit cognitive biases in the creation and presentation of their nascent ventures to investors. We examine how an entrepreneur’s display of three cognitive biases (overconfidence, the illusion of control, and generalizing from small numbers) impacts investor funding. We explore the relationship between the display of these biases, the amount of funding an entrepreneur receives, and the entrepreneur’s gender. The results of our mixed-method study, using content analysis and experimental data, suggest that the entrepreneur’s display of cognitive biases can influence the amount of funding an entrepreneur receives. Moreover, this study finds that the relationship is moderated by the entrepreneur’s gender.
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