TY - GEN A1 - Urbig, Diemo A1 - Monsen, Erik T1 - The structure of optimism: “Controllability affects the extent to which efficacy beliefs shape outcome expectancies” T2 - Journal of Economic Psychology N2 - 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. Y1 - 2012 U6 - https://doi.org/10.1016/j.joep.2012.03.004 SN - 0167-4870 VL - 33 IS - 4 SP - 854 EP - 867 ER - TY - CHAP A1 - Monsen, Erik A1 - Urbig, Diemo ED - Carsrud, Alan L. ED - Brännback, Marlin T1 - Perceptions of Efficacy, Control, and Risk: A Theory of Mixed Control T2 - Understanding the Entrepreneurial Mind : Opening the Black Box N2 - Entrepreneurship involves the establishment of new organizations and the development of new economic activities. Its consequences have not been experienced before and thus are rife with risk and uncertainty. Those who engage in such activities have consequently been considered as being willing to take on more risk and uncertainty than others. Empirical work, however, has demonstrated that entrepreneurs are not willing to take more risks than non-entrepreneurs (Busenitz and Barney 1997; Miner and Raju 2004; Palich and Bagby 1995; Wu and Knott 2006). Therefore, a corresponding difference in general risk propensity hypothesis is not supported by research findings. Alternatively, a difference in risk perception hypothesis has been suggested. In other words, even if entrepreneurs and non-entrepreneurs have similar risk preferences, entrepreneurs may perceive less risk by overestimating their chances for success (Baron 1998). Y1 - 2009 SN - 9781441904423 U6 - https://doi.org/10.1007/978-1-4419-0443-0_12 SN - 1572-1922 SP - 259 EP - 281 PB - Springer New York CY - New York, NY ER -