Rose-Colored Glasses: Availability Vs. Overoptimism in Entrepreneurial Starts

Across a ten-year archival study and an experiment, we observe the effects of the cognitive bias of availability on entrepreneurial decision making: disproportionate media mentions of entrepreneurial success (fundraising events) vs. entrepreneurial failure (shut-down events) motivate laypeople to start new ventures above dispositional optimism measures previously believed to drive entry.