The Borrower's Curse: Comment  

Oleh:

Hillier, Brian

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 108 no. 451 (Nov. 1998), page 1772-1774.
Fulltext: 1772.pdf (89.81KB)

Isi artikel

This paper explores the implications of entrepreneurs holding biased perceptions about the probability of project success and/or the size of payoff if successful. When entrepreneurs are optimistic only about the probability of success credit is not rationed. Credit rationing can occur where optimists over-estimate payoffs.

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