Why might the presence of overoptimistic entrepreneursthose who systematically overestimate the profits from pursuing new activitieshelp in
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Why might the presence of “overoptimistic entrepreneurs”—those who systematically overestimate the profits from pursuing new activities—help in getting rid of coordination failures? Relate this observation to relative frequent swings of coordination equilibria in the fashion industry.
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The presence of overoptimistic entrepreneurs can potentially help in getting rid of coordination failures for several reasons particularly in industri...View the full answer
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