JOURNAL OF MANAGEMENT POLICY AND PRACTICE
Confirmation Bias in Entrepreneurship
Author(s): C.W. Von Bergen, Martin S. Bressler
Citation: C.W. Von Bergen, Martin S. Bressler, (2018)"Confirmation Bias in Entrepreneurship," Journal of Management Policy and Practice, Vol. 19, Iss. 3, pp. 74-84
Article Type: Research paper
Publisher: North American Business Press
Research findings confirm that individuals seek confirmation for their decisions and discount data
inconsistent with their beliefs. This confirmation bias—the tendency to trust, remember, and act only on information that supports what an individual already believes—is pernicious and wide-spread and may also contribute to the high failure rate of entrepreneurial ventures because of those biases. The purpose of this paper is to help entrepreneurs be aware of these biases and help them understand that bias can be moderated using System 2 thinking, which is characterized as reasoned, reflective, and conscious.