I theoretically develop and empirically investigate the role of industry and startup experience on the forecast performance of 2,304 entrepreneurs who have started new businesses. Using the Kauffman Firm Survey I show that industry experience is associated with more accurate and less biased...

We posit that individuals who are actively engaged in activities to develop their own venture will exhibit hindsight bias when recalling their startup experiences. We observe that those who fail to develop their startup activity into an operating business demonstrate substantial hindsight bias...

We posit that individuals who are actively engaged in activities to develop their own venture will exhibit hindsight bias when recalling their start-up experiences. We observe that those who fail to develop their start-up activity into an operating business demonstrate substantial hindsight bias...