Abstract

Individuals have a general propensity to overestimate their own abilities often leading to overconfidence and hubris. Among new entrepreneurs, overconfidence has been shown to be especially problematic. While recent studies have focused on individual overconfidence, in the present study we focus on how overconfidence manifests within teams. The calibration of confidence within founding teams is the result of complex interactive relationships among other team-level inputs, states, and processes. However, not all teams will successfully calibrate team confidence. We examine the role of team characteristics and processes (such as team trust, conflict, and identity) that may hinder decision-making and thus pose challenges to the calibration of team confidence.

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