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The structure of optimism: “Controllability affects the extent to which efficacy beliefs shape outcome expectancies”

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  • Urbig, Diemo
  • Monsen, Erik

Abstract

In this article we theoretically develop and empirically test an integrative conceptual framework linking dispositional optimism as general outcome expectancy to general efficacy beliefs about internal (self) and external (instrumental social support and chance) factors as well as to general control beliefs (locus-of-control). Bandura (1997, Self-efficacy. The exercise of control (p. 23). New York: Freeman), quoted in title, suggests – at a context-specific level – that controllability moderates the impact of self-efficacy on outcome expectancies and we hypothesize that – at a general level – this also applies to dispositional optimism. We further hypothesize that locus of control moderates the impact of external-efficacy beliefs, but in the opposite direction as self-efficacy. Our survey data of 224 university students provides support for the moderation of self-efficacy and chance-efficacy. Our new conceptualization contributes to clarifying relationships between self- and external-efficacy beliefs, control beliefs, and optimism; and helps to explain why equally optimistic individuals cope very differently with adverse situations.

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  • Urbig, Diemo & Monsen, Erik, 2012. "The structure of optimism: “Controllability affects the extent to which efficacy beliefs shape outcome expectancies”," Journal of Economic Psychology, Elsevier, vol. 33(4), pages 854-867.
    • Handle: RePEc:eee:joepsy:v:33:y:2012:i:4:p:854-867
    DOI: 10.1016/j.joep.2012.03.004
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    9. Baron, Robert A., 2004. "The cognitive perspective: a valuable tool for answering entrepreneurship's basic "why" questions," Journal of Business Venturing, Elsevier, vol. 19(2), pages 221-239, March.
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    Cited by:

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    2. Brändle, Leif & Berger, Elisabeth S.C. & Golla, Stephan & Kuckertz, Andreas, 2018. "I am what I am - How nascent entrepreneurs’ social identity affects their entrepreneurial self-efficacy," Journal of Business Venturing Insights, Elsevier, vol. 9(C), pages 17-23.
    3. Cara Jonker & Eileen Koekemoer & Jan Nel, 2015. "Exploring a Positive SWB Model in a Sample of University Students in South Africa," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 121(3), pages 815-832, April.
    4. Kim Klyver & Benson Honig & Paul Steffens, 2018. "Social support timing and persistence in nascent entrepreneurship: exploring when instrumental and emotional support is most effective," Small Business Economics, Springer, vol. 51(3), pages 709-734, October.
    5. Craig W. Trumbo & Lori Peek & Michelle A. Meyer & Holly L. Marlatt & Eve Gruntfest & Brian D. McNoldy & Wayne H. Schubert, 2016. "A Cognitive‐Affective Scale for Hurricane Risk Perception," Risk Analysis, John Wiley & Sons, vol. 36(12), pages 2233-2246, December.
    6. Marco Caliendo & Maximilian Goethner & Martin Weißenberger, 2020. "Entrepreneurial persistence beyond survival: Measurement and determinants," Journal of Small Business Management, Taylor & Francis Journals, vol. 58(3), pages 617-647, May.
    7. Christoph Bühren & Philip J. Steinberg, 2017. "The impact of psychological traits on performance in sequential tournaments: Evidence from a tennis field experiment," MAGKS Papers on Economics 201705, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    8. Yoav Ganzach, 2016. "The effect of perceived advantage and disadvantage on the variability and stability of efficacy beliefs," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 11(2), pages 197-204, March.
    9. Hand, Chris & Iskandarova, Marfuga & Blackburn, Robert, 2020. "Founders’ social identity and entrepreneurial self-efficacy amongst nascent entrepreneurs: A configurational perspective," Journal of Business Venturing Insights, Elsevier, vol. 13(C).
    10. repec:cup:judgdm:v:11:y:2016:i:2:p:197-204 is not listed on IDEAS

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    More about this item

    Keywords

    Dispositional optimism; External-efficacy; Locus of control; Expectations; Cognition; Uncertainty; Belief; Expectations; Self-efficacy;
    All these keywords.

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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