how to design optimal compulsion. One argument is that the amount of compulsion should rise with the size of the bias to … the bias, the amount of compulsion should not depend on the bias. This puzzle is solved for the case where individuals are … affected by a bias that leads them to under-save, acknowledging that the planner predicts each individual’s optimal action with …

subjective beliefs on the distribution of returns. However, the bias of these endogenous subjective beliefs induces the choice of …

We study the effects of overconfidence in a two-period investment-decision agency setting. Under common priors, agent … from first-period investment. This implies that agent overconfidence mitigates the agency problems arising from the agent …

Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue … that the connection between overconfidence and innovation is more complex than the previous literature suggests. In … particular, we show theoretically and experimentally that different forms of overconfidence may have opposing effects on …

salient perturbations, we propose a strategic foundation of overconfidence. Since overconfident statements are used in …

bias or border effect rather than by using other indicators such as the openness rate or the existence of tariffs and non …