Overview
- Planning Fallacy is just a manifestation of a more pervasive optimism bias
- mostly hereditary behaviour
- lots of benefits, but only for who don’t lose the real world view
- One of the benefits is the ability to persist in spite of obstacles, but persistence often comes at a high cost
- The optimistic risk of entrepreneurs risk contributes to the economic dynamism of capitalist society
- even though in most of the cases the courage is not rewarded
- explaining entrepreneurial optimism
- wishful thinking
- cognitive bias
- Planning Fallacy
- ignoring other people’s plans and skills
- Illusion of control: we ignore luck’s role
- focus on what we know and ignore what we don’t know
- hybris