Theory of mixed control
Based on Albert Bandura's Social Cognitive Theory, we suggest suggest a new role of locus of control as a moderator of the effects of self-efficacy, perceived instrumental social support (other-efficacy), and chance-efficacy (related but different from belief in good luck) on outcome expectancies and those varaibles that are driven by outcome expectancies.
- Urbig, D., Monsen, E. (2012) The structure of optimism: “Controllability affects the extent to which efficacy beliefs shape outcome expectancies”. Journal of Economic Psychology, 33(4), 854–867. dx.doi.org/10.1016/j.joep.2012.03.004
- Urbig, D. (2010) Outcome Expectancies and the Interaction of Efficacy and Control Beliefs: Life, Work, and Entrepreneurship. (Doctoral thesis at Radboud University Nijmegen) Aachen: Shaker. (publisher's webpage, amazon)
- Monsen, E. & Urbig, D. (2009) Perceptions of Efficacy, Control, and Risk: A Theory of Mixed Control. In: A. Carsrud, M. Brannback (eds.) The Entrepreneurial Mind. Opening the black box. New York: Springer, pp. 259-281. doi: 10.1007/978-1-4419-0443-0_12
- Monsen, E. & Urbig, D. (2009) Entrepreneurs and perceptions of compound risk: Moderating effects of efficacy and control beliefs. Frontiers of Entrepreneurship Research. 29(6), 255-270.<http://digitalknowledge.babson.edu/fer/vol29/iss6/2/> (pdf).
Overconfidence and other belief-related biases
- Urbig, D. (2010) Base rate neglect for the wealth of interacting people. Advances in Complex Systems. 13(5): 607-619. dx.doi.org/10.1142/S0219525910002761, (pdf)
- Urbig, D., Stauf, J., & Weitzel, U. (2009). What is your level of overconfidence? A strictly incentive compatible measurement of absolute and relative overconfidence. Discussion Paper Series/Tjalling C. Koopmans Research Institute, 9(20). (pdf).
- Urbig, D. & Weitzel, U. (2009): A plea for individually ‘irrational’ entrepreneurship: how entrepreneurial overconfidence affects payoffs of an entrepreneurial population (summary). Frontiers of Entrepreneurship Research, 29(6), 300. <http://digitalknowledge.babson.edu/fer/vol29/iss6/19/> (pdf).