Extending choice in health care is currently popular amongst English, and other, politicians. Those promoting choice … choice acts as a major driver for efficiency. Giving service users the ability to choose applies competitive pressure to … subjects this assumption to the scrutiny provided by a review of the theoretical and empirical economic evidence on choice in …

Evidence from psychology suggests that overconfidence is more important in North America than in Japan. The pattern is … the benefits of promoting initiative and new investments. Overconfidence and high sensitivity to shame emerge as …

increased anticipatory utility and only to second-order costs due to distorted behaviour. We show that in a portfolio choice …

Following extensive empirical evidence about ‘market anomalies’ and overconfidence, the analysis of financial markets … overconfidence. …

hypothesis by correlating individual overconfidence scores with several measures of trading volume of individual investors … was designed to measure various facets of overconfidence (miscalibration, the better than average effect, illusion of … control, unrealistic optimism). The measures of trading volume were calculated by the trades of 215 individual investors who …

profited from high firm rents in the past. We interpret our findings as evidence for overconfidence generated by imperfectly …

A tradition from Knight (1921) argues that more risk tolerant individuals are more likely to become entrepreneurs, but … perform worse. We test these predictions with two risk tolerance proxies: stock market participation and personal leverage … return on assets. The results are similar using personal leverage as risk tolerance proxy. We consider alternative …

-resistant investment frenzies and subsequent deep crashes. In addition to collective illusions of control, the model accounts for the …