Entrepreneurs and Ego
Researcher Brian Wu, author of the paper “Entrepreneurial Risk and Market Entry”, in BusinessWeek:
Entrepreneurs, like everybody else, hate uncontrollable risks, but on the other hand, they’re overconfident in their own abilities — they think they can control their abilities in a random drawing of people. It’s like the Lake Wobegon effect in assessing their position among peers. They think they’re above the average.
This statement is just too over-simplistic to be of any worth.