Overconfidence can improve an agent's relative and absolute performance in contests

Sandra Ludwig; Philipp C. Wichardt; Hanke Wickhorst

This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, forthcoming). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance relative to an unbiased opponent and can even lead to an advantage for the overconfident agent in absolute terms.

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Year of publication:	2010
Authors:	Ludwig, Sandra ; Wichardt, Philipp C. ; Wickhorst, Hanke
Publisher:	München : Univ., Volkswirtschaftliche Fak.
Subject:	Overconfidence \| Contests \| Vertrauen \| Confidence \| Persönlichkeitspsychologie \| Personality psychology \| Wettbewerb \| Competition \| Arbeitsleistung \| Job performance \| Extensives Spiel \| Extensive form game \| Theorie \| Theory

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Extent:	Online-Ressource (9 S., 154Kb)
Series:	Münchener Wirtschaftswissenschaftliche Beiträge : VWL ; discussion papers. - München : Univ., ZDB-ID 2296321-2. - Vol. 2010-35
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/104303 [Handle]
Classification:	D21 - Firm Behavior ; D44 - Auctions ; D82 - Asymmetric and Private Information
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10008757370